TechFlow news, on June 10, according to The Block, 38-year-old New York resident and Russian national Iurii Gugnin was arrested and arraigned in New York on charges including wire fraud, bank fraud, and money laundering.
The U.S. Department of Justice alleges that Gugnin turned his cryptocurrency company Evita into a "covert pipeline," using primarily the stablecoin Tether (USDT) to funnel approximately $530 million in "dirty money" into the U.S. financial system between June 2023 and January 2025, aiding sanctioned Russian banks and helping Russian end users access sensitive U.S. technology.
As founder, president, treasurer, and compliance officer of Evita Investments and Evita Pay, Gugnin is accused of laundering millions of dollars in crypto assets for foreign clients—including those holding funds at sanctioned Russian banks—into Manhattan bank accounts while concealing the source of funds from banks and exchanges. Each count of bank fraud carries a maximum penalty of 30 years in prison.
