Crypto Founder Arrested for $530 Million Sanctions-Busting Scheme: Report

• Evita Pay founder Gugnin arrested for allegedly funneling $530 million through crypto for sanctioned Russian banks.
• DOJ charges Gugnin with wire fraud, money laundering, and operating an unlicensed business amid security concerns.
• Investigators reveal Gugnin’s awareness of his illegal actions, backed by suspicious web searches on criminal investigations.

Iurii Gugnin, the founder of Evita Pay, has been arrested in New York because his company is accused of bringing over $530 million from sanctioned Russian banks to the U.S. The DOJ is charging him for wire fraud, bank fraud, money laundering, and for operating a business that doesn’t have a license for money transmission. His punishment could be up to life behind bars if he is found guilty.

The DOJ said that Gugnin facilitated stablecoin Tether transactions for Russian customers and some Russian banks that were included on the list of sanctioned entities, such as Sberbank, VTB, Sovcombank, and Tinkoff. Over the period from June 2023 to January 2025, he is reported to have helped Russia get sensitive American technologies by using his company to avoid U.S. sanctions.