Crypto Founder Faces Charges for $500 Million Money Laundering Scheme

A Russian cryptocurrency payment firm’s founder, Iurii Gugnin, has been charged with orchestrating a multi-million dollar money laundering scheme. The United States Department of Justice alleges that Gugnin used his company, Evita, to channel more than $500 million in illicit funds through the U.S. financial system. Prosecutors claim this involved facilitating transactions for sanctioned Russian banks, defrauding American financial institutions, and aiding the export of controlled technology to the Russian government.