The far-right Epoch Times media company was at the center of a fraudulent money-laundering and cryptocurrency scam involving tens of millions of dollars, the justice department said on Monday as it announced the indictment of its chief financial officer Bill Guan.
The 61-year-old executive “conspired with others to participate in a sprawling, transnational scheme to launder at least approximately $67m of illegally obtained funds”, according to a statement from the US attorney’s office of the southern district of New York.
Proceeds went to the company, it said, and for the personal enrichment of individuals including Guan, who faces up to 70 years in prison on one count of conspiring to commit money laundering and two counts of bank fraud.
Hellbound and Down 