From Cointelegraph
June 9, 2025 7:38 pm:

A crypto founder in New York was arrested for allegedly using his firm, Evita Pay, to funnel $530 million from sanctioned Russian banks into the US to help Russians access sensitive American technology. The founder, Iurii Gugnin, faces charges of wire fraud, money laundering, and operating an unlicensed money transmitting business. If convicted, he could face life in prison.

Gugnin allegedly ran a money laundering scheme from June 2023 to January 2025, using stablecoin Tether to process transactions for Russian clients connected to blacklisted banks like Sberbank and VTB. The DOJ accuses Gugnin of turning his crypto company into a pipeline for dirty money, moving funds to aid sanctioned Russian banks and help Russian end-users acquire American technologies.

Gugnin allegedly lied to US banks about Evita’s Russian ties, manipulated invoices to hide client identities, and ignored Anti-Money Laundering rules despite registering Evita Pay as a money transmitting business in Florida with false statements. He faces up to 30 years in prison for bank fraud, 20 years for wire fraud, and 10 years for failing to implement an effective Anti-Money Laundering program.

The DOJ claims Gugnin conducted web searches to determine if he was under investigation, signaling an awareness that he was breaking the law. He could also face up to five years in prison for conspiracy to defraud the US. Gugnin’s actions highlight the risks associated with using crypto to bypass sanctions and launder funds.

Read more at Cointelegraph: Russian Crypto Founder Charged Laundering $530M Into US