Crypto exec ran a ‘covert pipeline for dirty money,’ DOJ says
Evita Pay founder Iurii Gugnin has been accused of using sanctioned Russian banks to launder millions into the US, with the funds used in part to undermine American interests.
A crypto founder has been arrested in New York for allegedly using his crypto firm, Evita Pay, to funnel around $530 million into the US from sanctioned Russian banks to help Russians access highly sensitive American technology.
Iurii Gugnin was hit with a 22-count indictment and will face charges related to wire and bank fraud, money laundering and operating an unlicensed money transmitting business, among others, the US Department of Justice said on Monday.
If convicted, Gugnin could spend life behind bars. It’s the latest case involving the use of crypto to attempt to bypass sanctions and launder funds.
