Crypto Blog
The US Department of Justice indicted Bill Guan, the chief financial officer of Epoch Times, on Tuesday.
Guan managed the company’s “Make Money Online” team, operating from a foreign office, to facilitate the scheme. Under his direction, the team used cryptocurrency to purchase tens of millions of dollars in illicit proceeds, mainly from fraudulently obtained unemployment benefits loaded onto prepaid debit cards.
Around the time the money laundering scheme began, the Media Company’s annual revenue surged by approximately 410%, from about $15 million to $62 million. When banks questioned Guan about the increased transactions, he allegedly lied and instead claimed that the funds were from donations.
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