The U.S. Department of Justice unsealed a 22-count indictment against Iurii Gugnin, founder of cryptocurrency payment companies Evita Investments Inc. and Evita Pay Inc., alleging he used the businesses to funnel more than USD 500 million of overseas payments through U.S. banks and cryptocurrency exchanges while concealing the source and purpose of the transactions, including links to sanctioned Russian banks and export-controlled procurement. Between June 2023 and January 2025, Gugnin allegedly facilitated approximately USD 530 million in flows, largely received in the stablecoin Tether (USDT), by taking cryptocurrency from foreign customers, moving it through wallets and U.S. bank accounts, converting it into fiat currency, and making payments through Manhattan bank accounts while obscuring counterparties. The indictment alleges he defrauded banks and exchanges by repeatedly misrepresenting that Evita did not do business with Russia or sanctioned entities, despite facilitating transactions involving funds held at PJSC Sberbank, PJSC Sovcombank, PJSC VTB Bank, and JSC Tinkoff Bank, and maintaining personal accounts at JSC Alfa-Bank and PJSC Sberbank. It also alleges payments to procure sensitive electronics including an export-controlled server and laundering tied to purchases for Rosatom, alongside Bank Secrecy Act breaches including failure to implement an effective anti-money laundering programme and failure to file suspicious activity reports with the Financial Crimes Enforcement Network, plus false statements used to obtain a Florida money transmitter licence. Gugnin was arrested and arraigned in New York, and the DOJ said the matter was coordinated through the Justice and Commerce Departments’ Disruptive Technology Strike Force; potential maximum penalties, if convicted, include up to 30 years per bank fraud count and up to 20 years for certain fraud, sanctions, and money laundering counts.
U.S. Department of Justice 2025-06-09
U.S. Department of Justice unseals indictment charging Evita founder with sanctions and export-control evasion and a USD 530 million crypto laundering scheme
The U.S. Department of Justice unsealed a 22-count indictment against Iurii Gugnin, founder of Evita Investments Inc. and Evita Pay Inc., for allegedly funneling over USD 500 million through U.S. banks and cryptocurrency exchanges while concealing links to sanctioned Russian banks. Gugnin is accused of defrauding banks, violating the Bank Secrecy Act, and making false statements to obtain a Florida money transmitter license. He was arrested in New York, facing up to 30 years per bank fraud count.