Federal prosecutors arrested the Epoch Times’ chief finance officer on Monday for alleged involvement in a global money laundering scheme. The 61-year-old CFO participated in a multi-year plot to launder $67 million or more in a complex global scheme involving cryptocurrency, cards using stolen identification information, and more. This illegal cash benefited both himself and the Epoch Times. He entered a plea of not guilty on Monday afternoon.
The United States Attorney’s Office, Southern District of New York, said in a press release that Bill Guan, the CFO of a global newspaper and media company, had conspired with others to benefit himself, the media company, and its affiliates “by laundering tens of millions of dollars in fraudulently obtained unemployment insurance benefits and other crime proceeds.”
Guan also reportedly lied to banks about the funds, claiming they had come from legitimate sources donating funds to media companies.
The press release also said that one of the teams managed by Guan, Make Money Online, also called the MMO team, used cryptocurrency and prepaid debit cards to run the elaborate fraudulent scheme complexly. It involved using stolen data, and operations were conducted across countries.
Although the media company was not named in the indictment, Bill Guan was called and named the chief financial officer of the Epoch Times for years.
Guan has been charged with one count of conspiring to commit money laundering, which carries a maximum 20-year prison term. He also faces two counts of bank fraud, each carrying a maximum 30-year prison sentence.
The Epoch Times released a statement saying that Guan has been temporarily suspended and that the media house “intends to and will fully cooperate with any investigation dealing with the allegations against Mr. Guan.”
The Epoch Times is headquartered on West 28th Street in Manhattan, New York City. It has seen a jump in revenue from “approximately $15 million to $62 million,” according to prosecutors, between 2019 and 2020, and the rise was allegedly due to the scheme concocted by Guan. It began as a low-budget free newspaper in New York.
The Epoch Times is reportedly affiliated with the Chinese religious group Falun Gong, which has reportedly supported Donald Trump in recent years.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins, and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X Men|Women
