Crypto Launderer Extradited: Russian Mogul Accused of $530 Million Fraud

Russian citizen Iurri Gugnin, a 38-year-old resident of New York and accused money launderer, has been extradited to the US on charges that he illegally moved billions in cryptocurrency for sanctioned Russian banks. The accusations allege that Gugnin exploited his crypto company to launder at least $530 million belonging to individuals connected to Russia’s Sberbank, VTB Bank, Rosatom suppliers, and other entities under U.S. sanctions, according to federal prosecutors.