Crypto Founder Allegedly Laundered $530 Million for Russian Entities

A U.S. crypto payments company founder, Iurii Gugnin, has been charged with running a complex money laundering scheme that moved over half a billion dollars for sanctioned Russian banks and companies. Prosecutors allege that Gugnin used his company, Evita Investments, to disguise the origins of funds moving between U.S. banks and cryptocurrency exchanges. His actions allegedly involved multiple shell companies and falsified records to mask the true nature of the transactions.