🔹 Russian entrepreneur arrested in New York for massive crypto-based money laundering scheme

U.S. authorities have arrested 38-year-old Iurii Gugnin, the founder of a U.S.-based crypto payment firm, who is accused of helping sanctioned Russian entities launder over $530 million. The funds were funneled through American banks and crypto exchanges, often using the stablecoin Tether (USDT).

Gugnin, who lived in Manhattan and operated the companies Evita Investments and Evita Pay, now faces 22 counts, including money laundering, fraud, and sanctions evasion.


🔹 Concealing Russian ties, fake companies, and doctored invoices

Investigators say Gugnin used shell companies, forged documents, and fake invoices to disguise the flow of funds to Russian institutions such as Sberbank, VTB, Sovcombank, Tinkoff, and the state-owned nuclear energy corporation Rosatom.

He allegedly tampered with over 80 invoices and digitally erased any traces linking the transactions to Russia. This allowed him to bypass U.S. financial oversight and manipulate the data to make the transactions appear legitimate.


🔹 Also involved in exporting restricted technologies

According to the U.S. Department of Justice, the scheme went beyond just laundering money. Gugnin also allegedly helped Russian clients obtain prohibited American technologies, including equipment subject to anti-terrorism export restrictions.

“The defendant turned a crypto company into a covert pipeline for dirty money, channeling over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end users obtain sensitive U.S. technology,” said Matthew G. Olsen, U.S. Assistant Attorney General.


🔹 Searched for penalties online, linked to Russian and Iranian agents

Shortly before his arrest, Gugnin reportedly searched phrases like “how to know if the FBI is investigating you” and “money laundering penalties in the U.S.”, indicating he suspected he was under federal scrutiny.

He was also allegedly in direct contact with Russian intelligence agents and Iranian officials, both from countries that refuse to extradite their citizens to the U.S.


🔹 Lavish New York lifestyle despite illegal activity

Despite his criminal dealings, Gugnin lived the high life in New York — paying $19,000 per month for a luxury Manhattan apartment. In fall 2024, he was even featured in a Wall Street Journal article about elite renters in the city.


🔹 He faces an extremely severe sentence — possibly beyond life in prison

If convicted only of bank fraud, Gugnin could face up to 30 years in prison. However, if found guilty on all 22 counts, his combined sentence could exceed life imprisonment.

Gugnin has pleaded not guilty and remains in custody without bail as he awaits further court proceedings.




#CryptoCrime , #MoneyLaundering , #CryptoFraud , #Tether , #russia

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