Weidong “Invoice” Guan, the Chief Monetary Officer of The Epoch Instances, has been arrested and charged with orchestrating a $67 million worldwide cash laundering scheme. Federal prosecutors allege that Guan, 61, led a posh operation involving the usage of digital belongings to buy crime proceeds, together with fraudulently obtained unemployment advantages, which had been then laundered by numerous financial institution and crypto accounts linked to The Epoch Instances and Guan personally. The scheme reportedly brought about the media firm’s income to surge from roughly $15 million to $62 million between 2019 and 2020. The indictment doesn’t record the particular digital belongings allegedly used within the fees.
As said within the indictment,
“From no less than in or about 2020, by in or about Might 2024, GUAN, whereas working because the Chief Monetary Officer of a multinational media firm headquartered in New York, New York (the “Media Firm”), conspired with others to take part in a sprawling, transnational scheme to launder no less than roughly $67 million of illegally obtained funds to financial institution accounts within the names of the Media Firm and associated entities.”
Guan, who managed the “Make Cash On-line” crew at The Epoch Instances, allegedly used stolen private data to open accounts and switch illicit funds. When questioned by banks concerning the inflow of transactions, Guan is accused of mendacity, claiming the funds had been official donations. As US Lawyer Damian Williams stated,
“When banks raised questions concerning the funds, Guan allegedly lied repeatedly and falsely claimed that the funds got here from official donations to the media firm.”
In 2022, he falsely said in a letter to a congressional workplace that “donations represent ‘an insignificant portion of the general income’ of the Media Firm.”
The Epoch Instances, a conservative media group linked to the Falun Gong religious motion, has said its dedication to cooperating absolutely with the investigation and has suspended Guan pending the decision of the matter. The fees in opposition to Guan don’t pertain to the corporate’s journalistic actions.
If convicted, Guan faces a most sentence of 20 years for cash laundering and 30 years for every financial institution fraud cost. He pleaded not responsible and was granted a $3 million private recognizance bond with journey restrictions confined to components of New York and New Jersey.
