A Founder of Crypto was arrested in New York for allegedly using his cryptographic firm, Evita Pay, to channel around $ 530 million in the United States of Russian banks sanctioned to help Russians access highly sensitive US technology.
Iurii Guggnin was beaten with an accusation of 22 positions and will face positions related to bank and bank fraud, money laundering and the operation of a money transmission business without a license, among others, the United States department of the United States said Monday.
If it is convicted, Guggnin could spend his life behind bars. It is the last case that involves the use of cryptographic to try to avoid sanctions and washing funds.
The Department of Justice alleges that Gugnin operated a scheme of expanding money laundering from June 2023 to January 2025, processing Stablecoin Tether transactions (USDT) on behalf of Russian clients linked to banks in the blacklist such as Sberbank, VTB, Sovcombank and Tinkoff.
According to John A. Eisenberg, Attorney General of National Security, Gugnin made his cryptographic company a “undercover pipe for dirty money”, which moves around $ 530 million through the United States financial system to help sanctioned Russian banks and help Russian end users to acquire confident American technologies:
“The Department of Justice will not hesitate to bring our national security to justice to justice by allowing our foreign adversaries to avoid sanctions and export controls.”
Gugnin allegedly lied to US banks about Russian ties of Evita, manipulated invoices to hide customer identities and ignored the rules against money laundering despite registering that avoids paying as a money transmission business in Florida using false statements, the Department of Justice said.
Cointelegraph contacted to pay for Evita for the comments, but did not receive an immediate response.
Crypto’s founder suspected that he was under investigation
Ganggnin also supposedly made web searches such as: “I am being investigated” and “signature that may be under criminal investigation,” according to the Department of Justice, who states that these searches indicated the awareness that he was violating the law.
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“What are the best ways to find out if you are being investigated and what someone can do when they think they could be under investigation,” Ganggnin also looked on the web.
Gongin faces life in prison
Gongin faces up to 30 years in prison for each position of bank fraud, a maximum of 20 years for each cable fraud count and up to 10 years for not implementing an effective program against money laundering and the lack of presentation of presenting reports of suspicious activities.
The founder of Crypto could receive up to five years in prison for conspiracy to defraud the United States.
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