New York [US], June 4 (ANI): The Chief Financial Officer (CFO) of the Epoch Times, Weidong “Bill” Guan, has been arrested over his alleged involvement in a money-laundering scheme, Al Jazeera reported, citing the United States Department of Justice.
The top executive of the Epoch Times, a New York-based conservative media outlet known for its fierce criticism of the Chinese government, Guan allegedly participated in a “sprawling, transnational scheme.”
The scheme was used to launder USD 67 million in illegally obtained funds to benefit himself and the company, according to the US Department of Justice.
The US Justice Department further added that it was under Guan’s management the company members who used to work for a specific team called “Make Money Online” were using cryptocurrency to buy tens of millions of dollars in crime proceeds, including fraudulently obtained unemployment insurance benefits that were loaded onto prepaid debit cards.
The employees then used stolen personal information to open bank and cryptocurrency accounts to transfer the illicit proceeds, according to Al Jazeera.
Prosecutors said the charges are not related to the Epoch Times’s news-gathering activities.
“When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from legitimate donations to the media company,” US Attorney Damian Williams said, according to Al Jazeera.
Guan, 61, of Secaucus, New Jersey, is charged with two counts of bank fraud and one count of conspiring to commit money laundering.
The most serious of the charges carries a maximum punishment of 30 years in prison. (ANI)
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