Russian Crypto CEO Charged in $530M Laundering Fraud

New York federal prosecutors have arrested Iurii Gugnin, the Russian CEO of Miami-based crypto platform Evita, on charges of orchestrating a $530 million fraud scheme. The indictment alleges Gugnin used his company to funnel illicit funds through U.S. banks and crypto platforms, aiding sanctioned Russian banks including Sberbank, VTB Bank, Sovcombank, and Tinkoff.

The 22-count indictment includes charges of wire fraud, money laundering, and violations of U.S. sanctions. Assistant Attorney General Eisenberg described the operation as "a covert pipeline for dirty money," moving half a billion dollars to circumvent financial restrictions.

The case highlights ongoing regulatory scrutiny of cryptocurrency platforms' compliance with anti-money laundering laws. Prosecutors claim Gugnin concealed transaction origins under the guise of a legitimate crypto startup.