CFO of Epoch Times charged with partaking in money laundering scheme of at least $67 million: DOJ

Guan was arrested on Sunday morning.
Suitcase of cash

Bill Guan, Chief Financial Officer (CFO) of the Epoch Times, a multinational media company headquartered in New York City, was charged on Monday with "participating in a transnational scheme to launder at least approximately $67 million of illegally obtained funds to benefit himself and the media company," according to the Department of Justice.

Guan was arrested on Sunday morning.

"As alleged, Bill Guan, the Chief Financial Officer of a global newspaper and media company, conspired with others to benefit himself, the media company, and its affiliates by laundering tens of millions of dollars in fraudulently obtained unemployment insurance benefits and other crime proceeds," U.S. Attorney Damian Williams said on Monday. 

"When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from legitimate donations to the media company.  Today’s charges reflect this Office’s ongoing commitment to vigorously enforcing the laws against those who facilitate fraud through money laundering and to protecting the integrity of the U.S. financial system,” he added.