Epoch Times executive arrested in alleged $67 million money laundering scheme | Media news

Weidong Guan is accused of being involved in a “large-scale” money laundering scheme that benefited him and the right-wing media.

A senior executive at the New York-based conservative media outlet Epoch Times, known for its harsh criticism of the Chinese government, has been arrested for his alleged involvement in a money laundering scheme.

Weidong “Bill” Guan, the broadcaster’s chief financial officer, is said to have been involved in a “large-scale, transnational conspiracy” to launder at least $67 million in illegally acquired funds to enrich himself and the company, the U.S. Department of Justice said on Monday.

Led by Guan, members of the company’s “Make Money Online” team used cryptocurrencies to purchase tens of millions of dollars in criminal proceeds, including fraudulently obtained unemployment benefits loaded onto prepaid debit cards, according to the Justice Department.

According to federal prosecutors, the employees then used the stolen personal information to open bank accounts and cryptocurrency accounts and transfer the illicit proceeds. The proceeds were then laundered through other bank accounts belonging to the Epoch Times and Guan.

Prosecutors said the charges had no connection to The Epoch Times’ news-gathering activities.

“When banks asked questions about the funds, Guan allegedly repeatedly lied and falsely claimed the funds came from legitimate donations to the media company,” said U.S. Attorney Damian Williams.

“Today’s charges reflect this office’s continued commitment to vigorously enforcing the law against those who facilitate money laundering fraud and protecting the integrity of the U.S. financial system.”

Guan, 61, of Secaucus, New Jersey, is charged with conspiracy to commit money laundering and two counts of bank fraud.

The most serious charge carries a maximum sentence of 30 years in prison.

Guan’s attorney, Ariel Werner, did not immediately respond to a request for comment.

In a statement, The Epoch Times said there was “a guiding principle that puts business integrity above all else.”

“The company intends and will fully cooperate with any investigation related to the allegations against Mr. Guan,” the company said.

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

The Epoch Times is affiliated with the Falun Gong spiritual movement and was founded in 2000 to provide a platform for resistance against the Chinese Communist Party.

In recent years, the medium has become known for spreading right-wing views, including unproven conspiracy theories.

Since 2016, the media has strongly supported former US President Donald Trump, including through pro-Trump advertising on Facebook.