Tech Crypto CEO accused of laundering $500 million linked to sanctioned Russian banks

[nitpicked]

https://www.cnbc.com/2025/06/09/crypto-russia-laundering.html

Federal prosecutors in Brooklyn have charged the founder of a U.S.-based cryptocurrency payments firm with operating what they allege was a sophisticated international money laundering scheme that moved over half a billion dollars on behalf of sanctioned Russian banks and other entities.

Iurii Gugnin, a 38-year-old Russian national living in Manhattan, was arrested and arraigned Monday and ordered held without bail pending trial.
(snip)

“The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” Assistant Attorney General Eisenberg said in a statement.

Prosecutors said Gugnin used his companies — Evita Investments and Evita Pay — to process about $530 million in payments while concealing the origins and purposes of the funds. Between June 2023 and January 2025, he allegedly funneled the money through U.S. banks and cryptocurrency exchanges, primarily using tether, a widely used, dollar-pegged stablecoin.
(snip)

[Torchlight]

1. Just a guess... after a few months of rescheduling court dates, and it ain't big news anymore

he gets a midnight pardon from his trading partners in the Wite House

[nitpicked]

2. From the DoJ PR

https://www.justice.gov/opa/pr/founder-cryptocurrency-payment-company-charged-evading-sanctions-and-export-controls

(snip)
As alleged in the indictment, Gugnin is the founder, President, Treasurer, and Compliance Officer of U.S-based Evita Investments Inc. (Evita Investments) and Evita Pay Inc. (Evita Pay) (collectively, Evita). Gugnin used both companies to enable foreign customers — many of whom held funds at sanctioned Russian banks — to provide him with cryptocurrency, which he then laundered through cryptocurrency wallets and U.S. bank accounts. Gugnin ultimately converted the funds into U.S. dollars or other fiat currencies and then made payments through bank accounts in Manhattan on behalf of his foreign customers. In the process, the sources of the funds were obscured, disguising the audit trail and hiding the true counterparties to the transactions. Between June 2023 and January 2025, Gugnin used Evita to facilitate the movement of approximately $530 million through the U.S. financial system, most of which he received in the form of a cryptocurrency stablecoin known as Tether, or “USDT.”

To effectuate the scheme, Gugnin defrauded various banks and cryptocurrency exchanges through which he converted funds and made wire transfers. Gugnin repeatedly lied to these banks and exchanges, telling them that Evita did not conduct business with entities in Russia and did not deal with sanctioned entities. In fact, many of Gugnin’s customers were located in Russia, and he facilitated payments in funds held at sanctioned Russian banks, including PJSC Sberbank, PJSC Sovcombank, PJSC VTB Bank, and JSC Tinkoff Bank. Gugnin maintained personal accounts at two sanctioned Russian banks, JSC Alfa-Bank and PJSC Sberbank, with which he transacted while residing in the United States. Gugnin also facilitated payments by foreign customers to procure sensitive electronics, including an export-controlled server designed by a U.S. technology company, and laundered funds from a Moscow-based supplier to purchase parts for Rosatom, Russia’s state-owned nuclear technology company. To conceal his activities, Gugnin regularly obfuscated invoices by digitally “whiting out” the names and addresses of his Russian customers.
(snip)

[Faux pas]

3. Surprise Surprise Surprise

NOT.

[mdbl]

13. Thanks, you said it for me.

[Faux pas]

16. You're welcome

for sure

[ret5hd]

4. so trump/musk/thiel didn't get their cut.

big mistake, boy…big mistake.

[ImNotGod]

5. most crypto is just money laundering and tRump crypto a way to get russian money to the tRump crime family. nt

[Bluetus]

7. "Most"? Seems to me it is ALL just scams.

This crypto stuff has been around for 16 years. Can anybody identify a single legitimate use of this imaginary currency?

[JoseBalow]

15. Buying ayahuasca on the dark web

[Bluetus]

6. Serious question: Is there actually ANY use of cryopto for legitimate transactions?

I mean, every week, we hear of another hack where millions of dollars of value just vanished in the middle of the night. We hear of meme coins, NFTs and all sorts of other scams.

What we don't ever hear is the Wal*Mart lets you buy your groceries with crypto. Is there any car dealer who accepts payment in imaginary money? Maybe, but I bet they are crooks too.

Wake me up when we see Amazon accepting Trump coins as payment for goods. Until then, it is probably just another scam.

And no, I will not accept a paycheck in imaginary currency. unless you are willing to pay me for imaginary services.

[BadgerKid]

9. Your scenario is the art collector's view.

Crypto is useful for tracking ownership and transaction history, of course, of cryptocurrency.

[Bluetus]

12. Really?

"Crypto is useful for tracking ownership and transaction history"

People keep saying that, but every week, there is a new case of millions of dollars disappearing and nobody can figure out what happened to it.

Is there any example anywhere of legitimate commerce being transacted with any imaginary currency?

Maybe I'm old fashioned, but this looks like a classic case of The Emperor's New Clothes.

[Ford_Prefect]

17. From the time it was conceived Crypto was designed and intended to bypass normal regulation and identity records to

avoid taxation and other financial regulation. The purveyors have bragged that it keeps state, national, and international agencies from seeing who owns, trades, and manipulates the money, making it perfect for illegal transactions and money laundering.

[0rganism]

8. Pardon incoming RSN

All Mr. Gugnin has to do is make a call to Vlad and promise a million bucks to F47. Not difficult.

[Midnight Writer]

10. This is why Trump has a "Pardons Czar". Pay the Czar enough and go on your way.

[Hassler]

11. How long until Orange Julius Seizure

Pardons him and hires him to run some government agency?

[mdbl]

14. As long as people are stupid enough to buy into it

The crypto bros are happy to steal it.