<ul><li>Iurii Gugnin, the founder of a US-based crypto payments company, has been charged with orchestrating a money laundering operation involving over $530 million for sanctioned Russian banks and entities.</li><li>Gugnin faces a 22-count indictment that includes charges of wire and bank fraud, violations of US sanctions, money laundering, and failing to implement anti-money laundering protocols.</li><li>He allegedly used his companies to move funds through the US financial system, primarily using Tether's USDT stablecoin, and worked with clients linked to sanctioned Russian institutions.</li><li>If convicted, Gugnin could face up to 30 years in prison for bank fraud charges alone, but a guilty verdict on all counts could result in a much longer sentence fulfilling his lifetime.</li></ul>

Major Crypto Executive Accused Of Involvement In $500 Million Money Laundering Scheme

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