Writer of the article:
Revealed Jun 03, 2024 • 2 minute learn
Article content material
NEW YORK (AP) — The chief monetary officer of The Epoch Occasions, a conservative multinational media firm, is accused of participating in a multi-year scheme to launder tens of thousands and thousands of {dollars} in fraudulently obtained unemployment advantages and different funds, in accordance with an indictment unsealed Monday.
Arrested on Sunday, Weidong “Invoice” Guan, 61, of Secaucus, New Jersey, appeared Monday earlier than a federal decide in New York on prices of conspiring to commit cash laundering and financial institution fraud. He pleaded not responsible.
Commercial 2
Article content material
Guan is accused of taking part in a “sprawling transnational scheme” with others to launder no less than $67 million to the New York-based media firm’s financial institution accounts and associated entities. Federal prosecutors mentioned members of the corporate’s “Make Cash On-line” workforce, which was managed by Guan, used cryptocurrency to “knowingly buy tens of thousands and thousands of {dollars} in crime proceeds,” together with funds from fraudulently obtained unemployment advantages that have been loaded onto pay as you go debit playing cards, in accordance with federal prosecutors.
Stolen private info was then used to open accounts as a part of the alleged laundering scheme, prosecutors mentioned. The cash was additional laundered by way of different financial institution accounts held by Epoch and Guan’s private financial institution and cryptocurrency accounts.
Assistant Federal Defender Ariel Werner, listed in court docket data as Guan’s lawyer, declined to remark at the moment on the fees.
The Epoch Occasions was not named within the indictment launched Monday, however as an alternative was known as a “multinational media firm.” In a press release, the information group, which is linked to China’s Falun Gong religious motion, mentioned it will cooperate with the federal probe.
Commercial 3
Article content material
“The Epoch Occasions has a tenet that elevates integrity in its dealings above every part else. The corporate intends to and can totally cooperate with any investigation coping with the allegations in opposition to Mr. Guan,” in accordance with a written assertion. “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.”
Prosecutors mentioned the fees usually are not associated to the media firm’s newsgathering actions.
Federal prosecutors mentioned the media firm’s revenues jumped roughly 410% when the alleged cash laundering started, from roughly $15 million to $62 million. Guan, they mentioned, lied to banks after they requested concerning the enhance in transactions and mentioned there was a rise in reputable donations.
The Epoch Occasions has change into politically conservative over time and has embraced each former President Donald Trump and numerous conspiracy theories.
Article content material
