INSUBCONTINENT EXCLUSIVE:
A crypto founder has been arrested in New York for allegedly using his crypto firm, Evita Pay, to funnel around $530 million into the US
from sanctioned Russian banks to help Russians access highly sensitive American technology.Iurii Gugnin was hit with a 22-count indictment
and will face charges related to wire and bank fraud, money laundering and operating an unlicensed money transmitting business, among
that Gugnin operated a sprawling money laundering scheme from June 2023 to January 2025, processing stablecoin Tether (USDT) transactions on
behalf of Russian clients tied to blacklisted banks like Sberbank, VTB, Sovcombank and Tinkoff.According to John A
moving around $530 million through the US financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive
invoices to hide client identities and ignored Anti-Money Laundering rules despite registering Evita Pay as a money transmitting business in
years in prison for each count of bank fraud, a maximum of 20 years for each wire fraud count, and up to 10 years for failing to implement
an effective Anti-Money Laundering program and failure to file suspicious activity reports.The crypto founder could receive up to five years
in prison for conspiracy to defraud the US.Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin
