Iurii Gugnin, a Russian national living in New York, faces 22 criminal counts for allegedly laundering over $530 million through his cryptocurrency firms, Evita Investments and Evita Pay. The U.S. Department of Justice claims Gugnin facilitated transactions for sanctioned Russian banks using the stablecoin Tether (USDT). He is accused of failing to follow anti-money laundering (AML) regulations, misleading financial institutions, and falsifying compliance documents. Prosecutors allege that from June 2023 to January 2025, Gugnin operated a network that allowed sanctioned entities to access U.S. technologies and evade restrictions. His actions violated federal laws, threatening national security. Gugnin is currently detained, awaiting trial, where he could face up to 30 years per charge if convicted. The case raises serious concerns about the use of cryptocurrencies for illicit financial activities and may prompt stricter regulations on crypto exchanges and money transmitters.

Source đź”—