Weidong Guan is accused of involvement in ‘sprawling’ scheme to launder cash to learn himself and the right-wing outlet.
A high government on the Epoch Occasions, a New York-based conservative media outlet recognized for its fierce criticism of the Chinese language authorities, has been arrested over his alleged involvement in a cash laundering scheme.
Weidong “Invoice” Guan, the outlet’s chief monetary officer, is alleged to have participated in a “sprawling, transnational scheme” to launder at the very least $67m in illegally obtained funds to learn himself and the corporate, america Division of Justice mentioned on Monday.
Underneath the administration of Guan, members of the corporate’s “Make Cash On-line” group used cryptocurrency to purchase tens of hundreds of thousands of {dollars} in crime proceeds, together with fraudulently obtained unemployment insurance coverage advantages that had been loaded onto pay as you go debit playing cards, the DOJ mentioned.
Workers then used stolen private info to open financial institution and cryptocurrency accounts for transferring the illicit proceeds, which had been additional laundered by way of different financial institution accounts held by the Epoch Occasions and Guan, in accordance with federal prosecutors.
Prosecutors mentioned the fees usually are not associated to the Epoch Occasions’s news-gathering actions.
“When banks raised questions concerning the funds, Guan allegedly lied repeatedly and falsely claimed that the funds got here from reliable donations to the media firm,” US Legal professional Damian Williams mentioned.
“Right this moment’s prices replicate this workplace’s ongoing dedication to vigorously implementing the legal guidelines in opposition to those that facilitate fraud by way of cash laundering and to defending the integrity of the US monetary system.”
Guan, 61, of Secaucus, New Jersey, faces one depend of conspiring to commit cash laundering and two counts of financial institution fraud.
Essentially the most severe of the fees carries a most punishment of 30 years in jail.
Guan’s lawyer Ariel Werner didn’t instantly reply to a request for remark.
In an announcement, The Epoch Occasions mentioned it has “a guideline that elevates integrity in its dealings above all the pieces else.”
“The corporate intends to and can absolutely cooperate with any investigation coping with the allegations in opposition to Mr. Guan,” the corporate mentioned.
“Within the interim, though Mr. Guan is harmless till confirmed responsible past an inexpensive doubt, the corporate has suspended him till this matter is resolved.”
The Epoch Occasions, which is affiliated with the Falun Gong religious motion, was based in 2000 to offer a platform for opposing the Chinese language Communist Celebration.
In recent times, the outlet has turn into recognized for selling right-wing views, together with unsubstantiated conspiracy theories.
Since 2016, the outlet has strongly backed former US President Donald Trump, together with by way of pro-Trump Fb promoting.