Ex-Epoch Times CFO pleads guilty in $67M multinational money laundering scheme
Prosecutors said the company’s revenue jumped 410% as illicit funds moved through bank and cryptocurrency accounts.
- On Thursday, Weidong 'Bill' Guan, former chief financial officer of The Epoch Times, interrupted his money laundering trial in Manhattan to plead guilty to a conspiracy charge in a $67 million fraud scheme.
- Federal prosecutors reported the media company's revenues jumped approximately 410% from approximately $15 million to $62 million when Guan's Make Money Online team began laundering crime proceeds through cryptocurrency.
- Admitting his role, Guan told the judge his actions were a "tremendous lapse in judgment" and that he knew money passing through accounts he oversaw were likely "proceeds of criminality."
- Judge Victor Marrero did not set a sentencing date for Guan, who remains free on bail while facing a potential prison sentence of up to 10 years for the conspiracy charge.
- Prosecutors stated the charges are unrelated to newsgathering at The Epoch Times, which has become politically conservative and embraced President Donald Trump, though the outlet maintains integrity guides its dealings.
29 Articles
29 Articles
Dance for Crime: Ex CEO of Epoch Times - Intertwined with Shen Yun Troupe - Pleads Guilty to Stealing $67 Million from the Company
I first told you two years ago how intertwined the Epoch Times was with Shen Yun Dance Troupe. Yes, the conspiracy driven newspaper run by Chinese dissidents out of upstate New York is part and parcel with that colorful touring group of dancers. I told you 25 months ago that Bill Guan, then CEO of […] The post Dance for Crime: Ex CEO of Epoch Times — Intertwined with Shen Yun Troupe — Pleads Guilty to Stealing $67 Million from the Company appear…
Ex-Epoch Times CFO pleads guilty in $67M money laundering scheme
The former CFO of The Epoch Times, a conservative multinational media company, interrupted jury selection at his money laundering trial to plead guilty to a conspiracy charge in a $67 million fraud scheme.
Associated Press News
Ex-Epoch Times CFO pleads guilty in $67M multinational money laundering scheme
The former chief financial officer of The Epoch Times, a conservative multinational media company, interrupted jury selection at his money laundering trial to plead guilty to conspiracy.
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