The USA accused a crypto businessman from the Russian Federation of laundering $500 million and evading sanctions

The US Department of Justice has charged Russian entrepreneur Yuri Gugnin with laundering over $500 million, evading sanctions, and illegally exporting American technologies to the Russian Federation. According to the prosecution, he operated through cryptocurrency firms Evita Pay and Evita Investments, registered in Florida and Delaware.

These entities, according to the charges, he transformed into a mechanism for concealing international transactions and evading sanctions.

Gugnin was arrested in New York and has already appeared in court. He faces 22 counts, including bank and wire fraud, money laundering, conspiracy to violate the International Emergency Economic Powers Act (IEEPA), operating an unlicensed money business, and concealing suspicious activity from authorities. If found guilty on each count, the defendant faces up to 30 years in prison.