DOJ Don Charge Russian Crypto Founder Iurii Gugnin for Alleged $500M Money-Laundering Scheme
Di USA Jus Dpartment (DOJ) don put charge against Russian businessman Iurii Gugnin wey start crypto payment company Evita wey dey New York, with 22 counts of money laundering wey be like $500 million. Prosecutors talk say the crypto founder use Evita move bad money through USA banks, help Russian bank dem wey dey sanctioned, and fund export of controlled technology go Moscow. Gugnin still dey accuse say e lie to banks and crypto exchange dem sey Evita no get any deal with sanctioned people and e no put proper anti-money-laundering (AML) control. DOJ talk say Evita no do suspicious activity reports, so e allow big illegal transfer make dem happen. If dem find Gugnin guilty, e fit get up to 65 years jail for each charge wey include bank fraud, wire fraud, and AML break. The case be part of big DOJ fight against illegal crypto business, after dem seize $7.74 million linked to North Korean cyber criminals last week. FBI Assistant Director for Counterintelligence Roman Rozhavsky warn say make person no use crypto hide crime because e no go stop law enforcement from catching dem. The charges show say government dey put more pressure for crypto companies because market still dey easy to suffer from money laundering allegations and sanctions evasion check.
Bearish
Regulatory crackdown dem dey usual dey weigh market sentiments because e dey heighten legal and compliance risks for exchanges and payment processors. The indictment of one founder wey dem accuse of routing $500 million for sanctioned Russian entities dey underscore enforcement momentum wey dey similar to past DOJ actions against Tornado Cash and Bitzlato, events wey trigger short-term sell-offs for privacy-focused and compliance-light tokens. While broader market often stabilizes once dem price am in, di immediate effect na usually bearish as traders dey factor di threat of stricter KYC/AML oversight, plus di possibility of other probes into other firms. Over long term, dis kind case fit support market legitimacy, but near-term reaction go dey defensive with reduced risk appetite and higher regulatory premium.