Crypto Executive Behind $530M Scandal: Russian Ties, Sanctions Evasion & 22 Criminal Charges

Jun 10, 2025 04:00 pm Cryptocurrency 182

Key Takeaways:

$530 million in crypto allegedly laundered through U.S. banks by Russian national using Tether (USDT).

Defendant used U.S.-based crypto companies to bypass sanctions and fund Russian entities, including nuclear suppliers.

22 federal charges filed, including bank fraud, sanctions evasion, and operating an unlicensed money-transmitting business.

A Russian-born entrepreneur has been arrested in New York for allegedly turning a crypto payments company into a high-speed laundering vehicle that secretly routed over half a billion dollars for sanctioned Russian banks and tech buyers. Prosecutors say it’s one of the most brazen uses of crypto infrastructure to undermine U.S. sanctions to date.

Crypto Firm Allegedly a Front for Sanctioned Russian Transactions

The Department of Justice has unsealed a 22-count indictment against Iurii Gugnin, also known by aliases including Ge ..

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