Epoch Times CFO Arrested in Alleged $67M Money-Laundering Operation

 June 4, 2024

Bill Guan, Epoch Times's Chief Financial Officer, has been taken into custody on alleged money-laundering charges.

According to federal prosecutors, Bill Guan allegedly led a scheme to launder $67 million using cryptocurrency.

Breitbart News reported that Bill Guan, who oversees financial operations at the conservative news network, was apprehended at his residence on a Sunday morning. By Monday afternoon, he was facing a courtroom in Manhattan where he declared not guilty to the charges brought against him.

Guan's leadership in Epoch Times' "Make Money Online" team is under scrutiny for global money laundering via cryptocurrency.

Facing over three decades of guilt, Epoch Times has taken decisive action against him.

Cryptocurrency and Crime: A Growing Concern

Following his court appearance, Epoch Times immediately suspended Guan from his role. In a statement released to the media, the news organization expressed its intent to fully support the investigative efforts. They stated, "intends to and will fully cooperate with any investigation dealing with the allegations against Mr Guan."

Amidst the unfolding legal drama, there was an alarming incident overseas linked to Epoch Times. The same day Guan appeared in court, the printing house of Epoch Times in Hong Kong encountered a violent attack, where four individuals wielding sledgehammers stormed the facility.

The relationship between Guan's charges and the attack on the printing house remains speculative, highlighting the mysterious and far-reaching influence of the reputed operations.

A Rapid Response from Epoch Times

The news outlet has remained largely silent on in-depth discussions about its "Make Money Online" team. Epoch Times mentioned, "Although Mr Guan is innocent until proven guilty beyond a reasonable doubt, the company has suspended him until this matter is resolved."

Since its inception in 2000 by Chinese-American immigrants in New York, Epoch Times has expanded from a modest anti-communist newspaper to an extensive global news platform. The recent accusations against its CFO significantly challenge its integrity and operational ethics.

The court proceedings are moving swiftly as federal prosecutors gather substantial evidence purportedly linking Guan and his team to the wide-reaching illegal money-moving network.

This includes tracing the intricate use of digital currencies and blockchain technology, methods increasingly scrutinized by global financial regulators.

In conclusion, the arrest of Bill Guan has cast a shadow over Epoch Times' financial practices. The serious charges and the subsequent fallout could influence the future of the global news organization deeply. As details continue to emerge, the international community watches closely, awaiting the outcomes of what could be a landmark case in media and cryptocurrency-linked financial crimes.

About Victor Winston

Victor is a freelance writer and researcher who focuses on national politics, geopolitics, and economics.

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