US DOJ Charges Crypto Entrepreneur in $500M Russian Sanctions Evasion Scheme

Federal prosecutors have unveiled a sweeping indictment against Iurii Gugnin, founder of Evita Investments Inc. and Evita Pay Inc., alleging the Russian national orchestrated a $500 million money laundering operation through cryptocurrency channels. The scheme allegedly facilitated transactions for sanctioned Russian banks including Sberbank, VTB Bank, and Tinkoff Bank between June 2023 and January 2025.

The 22-count indictment paints a picture of sophisticated financial subterfuge, with charges ranging from wire fraud to violations of the International Emergency Economic Powers Act. Gugnin''s arrest in New York marks a significant escalation in US efforts to combat sanctions evasion through digital assets.

This case underscores growing regulatory scrutiny of cryptocurrency''s role in geopolitical finance. The DOJ''s action demonstrates increased coordination between financial crime units and national security agencies to track illicit crypto flows.