A 22-count indictment has been unsealed against Iurii Gugnin, also known as Iurii Mashukov and George Goognin, a resident of New York and citizen of Russia. The charges accuse Gugnin of using his cryptocurrency company Evita to funnel more than $500 million in overseas payments through US banks and cryptocurrency exchanges while hiding the source and purpose of the transactions.
Gugnin is charged with various offenses including wire and bank fraud, conspiracy to defraud the United States, and money laundering. The indictment alleges that he operated a covert pipeline for dirty money, moving funds to aid sanctioned Russian banks and help Russian end-users acquire sensitive US technology.
The Department of Justice said Gugnin’s cryptocurrency company allegedly served as a front to launder hundreds of millions of dollars for sanctioned Russian entities and to obtain export-controlled technology for the Russian government. The FBI described Gugnin’s scheme as an attempt to use cryptocurrency to hide illegal conduct, but vowed to hold him accountable.
Gugnin is accused of defrauding banks and cryptocurrency exchanges by lying about Evita’s business dealings with Russia and its customers. He allegedly failed to implement a proper anti-money laundering program and filed false reports, using this information to obtain a state license for his company.
If convicted, Gugnin faces up to 30 years in prison for each count of bank fraud and wire fraud. The case is being prosecuted by the Department of Justice and will be decided by a court of law once all evidence is presented.
Source: https://www.justice.gov/opa/pr/founder-cryptocurrency-payment-company-charged-evading-sanctions-and-export-controls