Epoch Times CFO charged in $67m money-laundering plot

Federal prosecutors allege that Bill Guan, 61, participated in a global plot to launder at least $67m (£52m) of illegal cash to benefit himself and the Epoch Times.

According to the indictment, Mr Guan led the outlet’s “Make Money Online” team, which used cryptocurrency to purchase tens of millions worth of crime proceeds.

Mr Guan has not yet entered a plea. If convicted, he could spend more than 30 years in prison.

In a statement on Monday evening, the Epoch Times told the BBC that it “intends to and will fully cooperate with any investigation dealing with the allegations against Mr Guan”.

“Although Mr Guan is innocent until proven guilty beyond a reasonable doubt, the company has suspended him until this matter is resolved,” the news outlet said.

It did not respond to specific questions about the Make Money Online team referenced by prosecutors.

Mr Guan could not be reached by the BBC.

In the 12-page indictment, federal prosecutors detailed the alleged plan, which they say began around 2020.

The plot, prosecutors said, was simple: members of the Make Money Online (MMO) team would purchase crime proceeds via cryptocurrency at a discount and transfer those proceeds into bank accounts held by entities affiliated with newspaper.

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