Ex-Epoch Times CFO pleads guilty in $67M multinational money laundering scheme

[BumRushDaShow]

Source: AP

Updated 10:21 PM EDT, July 9, 2026


NEW YORK (AP) — The former chief financial officer of The Epoch Times, a conservative multinational media company, interrupted jury selection at his money laundering trial on Thursday to plead guilty to a conspiracy charge in a $67 million fraud scheme.

Weidong “Bill” Guan, 63, of Secaucus, New Jersey, entered the plea in Manhattan federal court, admitting his participation in what prosecutors described as a scheme to launder fraudulently obtained unemployment benefits and other funds through the New York-based media company’s bank accounts and related entities.

The conspiracy charge relating to illegal financial transactions carries a potential prison sentence of up to 10 years in prison, but the deal with prosecutors spares him from the possibility that he would be convicted of other charges at trial and face the chance of more than a decade in prison. Judge Victor Marrero did not immediately set a sentencing date for Guan, who remains free on bail.

As he admitted his role, Guan said he knew there was “a high probability” that money passing through accounts he oversaw “were the proceeds of criminality.” He said that despite the probability that the money was linked to fraud, he “chose to accept” explanations he was given and “did not look deeper to verify my concerns.”

Read more: https://apnews.com/article/epoch-times-cfo-indictment-money-laundering-a015b35aaeae44284f0026dc10395acc

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EVERY ACCUSATION by the GOP against Democrats is an ADMISSION of their own guilt.

[blm]

1. Epoch Times is Moonie News 2.0

Last edited Fri Jul 10, 2026, 10:15 AM - Edit history (1)

They exist to catapult the propaganda for the Rightwing fascist agenda.

[radical noodle]

2. So when does trump pardon him

I imagine Guan can come up with the necessary cash for a pardon from our criminal in chief.

[mdbl]

9. I'm sure that was what started the plea

[FakeNoose]

3. If he's accepting the plea, then they probably have a lot more evidence on him

These trials get halted when the guilty party finally realizes there's no way out of this. So they take the deal.
I wonder who else this guy will rat out?

[70sEraVet]

4. Cryptocurrency seems to be the currency-of-choice for financial crimes.

According to court papers, members of the company’s “Make Money Online” team, which was managed by Guan, used cryptocurrency since 2020 to “knowingly purchase tens of millions of dollars in crime proceeds,” including funds from fraudulently obtained unemployment benefits that were loaded onto prepaid debit cards.

Stolen personal information was then used to open accounts as part of the money laundering scheme, prosecutors said. The money was further laundered through other bank accounts held by Epoch and Guan’s personal bank and cryptocurrency accounts, they said.

(same article)

Does crypto really have any purpose other than being a tool for financial crimes? No wonder trump has embraced it with such enthusiasm.

[twodogsbarking]

8. Bazinga.

[Bengus81]

5. Trump will love this guy for using crypto for crimes. He'll pardon him in 2027

along with another crypto criminal Bankman Fried

[Grins]

6. Trump-loving cult. Watched them for years.

Political as well as criminal.

[mahina]

7. They wallpapered Hawaii with their Hawaii fish wrap newspaper

Sucked a lot of people in.

I remember they were moonies what wasn’t there? Also a connection with far right folks in Israel?

[SamuelTheThird]

10. It's the Falun Gong people