US DOJ Accuses Epoch Times CFO of Laundering $67 Million in Crypto
CryptoNewsTerminal Staff04 Jun, 2024
US DOJ Accuses Epoch Times CFO of Laundering $67 Million in Crypto
The US Department of Justice (DOJ) has charged Bill Guan, the chief financial officer of right-wing outlet Epoch Times, with laundering $67 million in cryptocurrency. Guan is accused of using his position as head of Epoch Times' fundraising team to convert illicit funds, including fraudulently obtained unemployment benefits, into cryptocurrency from 2020 to May of this year. The charges against Guan highlight the increasing use of cryptocurrency for money laundering and other financial crimes. As cryptocurrency becomes more mainstream, law enforcement agencies are stepping up their efforts to combat its illicit use. The DOJ's action against Guan sends a strong message that cryptocurrency is not a safe haven for criminals.
