DOJ Charges Crypto CEO with 22-Count Indictment in $500M Money Laundering Scheme

• Gugnin allegedly funneled over $500 million through Evita, aiding sanctioned Russian banks covertly.
• He searched online about being investigated, showing he likely knew his actions were criminal.

Federal prosecutors have charged Iurii Gugnin, the founder of crypto firm Evita, in a $500 million laundering case. Gugnin is facing 22 criminal counts related to helping Russian clients move funds through the U.S. financial system from mid-2023 to early 2025.

The indictment claims Gugnin used Evita to process transactions that bypassed U.S. sanctions. He is accused of funneling money for Russian banks under restriction, including Sberbank, VTB, Sovcombank, and Tinkoff. According to officials, the activity supported banned exports and violated U.S. financial regulations.

Prosecutors also say Gugnin lied to Crypto financial institutions, claiming Evita had no ties to Russian entities. This allowed him to avoid scrutiny and sidestep basic checks typically used to catch suspicious transfers. The company allegedly skipped required compliance steps and failed to report questionable activity, which made it easier to handle illicit funds without detection.

Crypto in the courts: in EDNY today 22-count indictment charging Iurii Gugnin with wire and bank fraud, violating IEEPA usig his cryptocurrency company “Evita” to funnel more than $500 million of overseas payments through U.S. banks & crypto platforms. Detained.. pic.twitter.com/4Yl8roG4fD

— Inner City Press (@innercitypress) June 9, 2025

DOJ Cites Web Searches as Awareness of Alleged Crimes

Further details suggest that Gugnin knew he was likely being watched. The DOJ pointed to several online searches allegedly made by him, such as “Am I being investigated” and “signs you may be under criminal investigation.” 

He also searched, “What are the best ways to find out if you’re being investigated and what can someone do when they think they might be under investigation,” which prosecutors claim evidence of intent to hide unlawful conduct.

Charges include bank fraud, wire fraud, conspiracy to defraud the United States, and failure to maintain anti-money laundering measures. Bank fraud alone carries a potential 30-year sentence per count. Wire fraud charges can lead to 20 years each, and the remaining counts range from 5 to 10 years. If found guilty on all, Gugnin could face decades in prison.

Wider Clampdown on Crypto-Linked Crimes

Assistant Director of the FBI’s Counterintelligence Division Roman Rozhavsky addressed the situation:

“Let this serve notice that using cryptocurrency to hide illegal conduct will not prevent the FBI and our partners from holding you accountable.”

This indictment is part of a broader pattern of action by the DOJ in recent days. Just before Gugnin’s case, federal prosecutors filed to seize $7.74 million in cryptocurrency linked to North Korean IT workers. These individuals allegedly used false identities to secure remote work with U.S.-based blockchain firms and funneled their earnings through laundering processes, including token swaps and chain hopping.

In addition to that, recent report from Security firm Silent Push reveals that North Korean hackers have registered fake companies inside the United States, hiding behind legitimate business paperwork. According to the Japanese Times, these actors used malware and fake job offers to gain access to developers and steal data before intervention by federal agents.