US Nabs Russian Mogul for Laundering $530M
A 38-year old Russian citizen and New York resident Iurri Gugnin is accused of evading export controls and sanctions, defrauding financial institutions, and breaking the Bank Secrecy Act. Gugnin’s actions have seriously undermined the credibility of crypto in terms of regulation, since the U.S. indictment accused him of 22 crimes.
He is said to have moved more than $530 million for clients through his companies in the United States who are believed to be connected to sanctioned Russian banks. Federal prosecutors claim that, from June 2023 to January 2025, Gugnin entered crypto, mostly USDT, into bank accounts and exchanges inside the United States and turned it into fiat for overseas transfers.
According to the allegations, those…
