The chief financial officer of the Epoch Times has been arrested on federal money-laundering charges, prosecutors said Monday.
in U.S. District Court in lower Manhattan with two counts of bank fraud and one count of conspiracy to commit money laundering.
Mr. Guan was arrested Sunday and made his first appearance Monday before U.S. Magistrate Judge Stewart D. Aaron, where he pleaded not guilty and released on a $3 million bond. His travel is restricted to areas in New York and New Jersey. The charges “do not relate to the Media Company’s newsgathering activities,” the Justice Department stated.
“The crime proceeds were generally purchased by the scheme participants, including members of the Team and others working with them, using a particular cryptocurrency platform, at discounted rates of approximately 70 to 80 cents per dollar, and in exchange for cryptocurrency,” Justice stated.
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