New York Eastern District federal prosecutors announced on June 9th that they have charged 38-year-old Russian citizen Iurii Gugnin, who resides in New York, for operating an illegal international money laundering network through his cryptocurrency company, Evita. The charges include transferring over $500 million to entities in Russia under U.S. sanctions and assisting Russian military enterprises in acquiring restricted U.S. technology. Moreover, Gugnin allegedly planned to conduct money laundering through Chinese networks.
Gugnin was arrested in New York on the same day and appeared in court for questioning. The indictment lists 22 charges, including wire and bank fraud, conspiracy to defraud the United States, violation of the International Emergency Economic Powers Act (IEEPA), unlicensed money transmitting business, failure to implement effective anti-money laundering compliance programs, failure to submit suspicious activity reports, money laundering, and related conspiracies.
According to prosecutors, Gugnin conducted a significant amount of cryptocurrency and bank transactions through his companies, Evita Investments Inc. and Evita Pay Inc., from June 2023 to January 2025. He used stablecoin Tether (USDT) to evade U.S. sanctions on Russian entities, with funds flowing exceeding $530 million. These transactions were primarily exchanged into USD to conceal the origins and recipients of the transactions.
Gugnin allegedly misrepresented the nature of his company’s business to multiple banks and exchanges, falsely claimed compliance with anti-money laundering regulations, failed to submit suspicious activity reports, and obtained a Florida money transmission license through false statements. He is also accused of aiding Russia’s state-owned nuclear energy company, Rosatom, in procuring parts and collaborating with several Russian banks under U.S. sanctions.
Prosecutors discovered in Gugnin’s Apple iCloud account contact information for several Russian Federal Security Service (FSB, former KGB) officials, along with a series of notes detailing a plan to “launder money for specific FSB officials through China” to “conceal trade transaction data from the U.S.”
Additional data included a business proposal integrating “Russian banks and Iranian servers” and records of communication with an individual labeled as “Iran government” (Iran gov).
Moreover, Gugnin operated virtual private servers that regularly connected to IP addresses from China, Russia, Iran, and Belarus, allowing clients to anonymously submit cross-border payment requests. These countries do not have extradition agreements with the United States.
The FBI noted that Gugnin had contacts with a senior advisor to the Russian military group Rostec, which is under U.S. sanctions, raising concerns that he may have established an escape plan and possesses sufficient resources and connections to evade prosecution by U.S. authorities.
According to court documents, Gugnin entered the U.S. in June 2022 on an O-1A “special talent visa” with his family and is currently applying for a green card. He presented himself as a “financial technology thought leader” but was allegedly involved in international fund movements, concealing fund sources, and end-users.
In his visa application, Gugnin claimed to primarily reside in Moscow, owned properties in Cyprus and the UK, had companies and accounts in Germany, France, and Ireland, held Russian and UAE passports, and had traveled abroad 73 times in the past 12 years. His business operations span China, Hong Kong, Singapore, Turkey, India, South Korea, and the UAE.
Gugnin resided in a luxurious Manhattan apartment with a monthly rent of $19,000 for the past three years and was reported by The Wall Street Journal as a high-end tenant.
Prosecutors found that Gugnin searched for terms like “how to know if you are being investigated,” “Evita Investments company criminal record search,” and “U.S. money laundering penalties,” and visited a webpage titled “am I under investigation,” indicating his awareness of potential legal risks.
The “Disruptive Technology Strike Force,” formed by the U.S. Department of Justice and the Department of Commerce, is leading the case. FBI Assistant Director of the Counterintelligence Division, Roman Rozhavsky, stated, “The defendant used a cryptocurrency company as a front to launder over $500 million for sanctioned Russian banks and assisted Russia in obtaining sensitive U.S. technology.” He warned that cryptocurrency is not a safe harbor to evade sanctions.
Prosecutors have requested pretrial detention for Gugnin, emphasizing his substantial resources and international connections, making it difficult to ensure his appearance in court if released. The court has yet to decide on granting bail.
If convicted, Gugnin could face up to the following maximum sentences: 30 years for bank fraud, 20 years each for wire fraud, IEEPA violations, money laundering, and illegal exports, 10 years for anti-money laundering violations, and 5 years each for conspiracy and unlicensed money transmitting business.