Ex-Epoch Times CFO pleads guilty in $67 million money laundering scheme
Summary
Weidong "Bill" Guan, the former chief financial officer of The Epoch Times, pleaded guilty to conspiracy in a $67 million money laundering scheme involving stolen unemployment benefits. Guan admitted to knowingly allowing fraudulent funds to pass through the company's and his own bank accounts, and he faces up to 10 years in prison.Key Facts
- Weidong "Bill" Guan is the ex-CFO of The Epoch Times media company.
- He pleaded guilty to conspiracy in a $67 million fraud and money laundering case.
- The scheme involved laundering fraudulently obtained unemployment benefits and other criminal proceeds.
- Fraudulent funds were moved through The Epoch Times’ bank accounts and related entities.
- Cryptocurrency and prepaid debit cards were used to handle illegal money.
- Guan admitted he knew the money was probably from crimes but did not investigate further.
- The company’s revenue reportedly increased by about 410% during the scheme.
- The Epoch Times states it was not involved in the crime and is cooperating fully with authorities.
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