June 14, 2024
Epoch Times CFO Weidong 'Bill' Guan accused of laundering $67 million


A top executive for Epoch Times, a conservative multinational media company, has been arrested and charged in a transnational scheme to launder at least $67 million in illicit funds to benefit himself and the company, the U.S. Attorney’s Office announced Monday.

Federal authorities unsealed an indictment Monday charging Weidong “Bill” Guan, the chief financial officer of The Epoch Times, with one count of conspiring to commit money laundering and two counts of bank fraud. Authorities said Guan, 61, was arrested Sunday morning and pleaded not guilty on Monday in federal court.

In a 12-page indictment, federal prosecutors accused Guan of participating in a yearslong scheme which included using cryptocurrency, fraudulently obtaining unemployment insurance benefits, tens of thousands of prepaid debit cards, and stolen personal identification information to open financial accounts. Prosecutors further alleged that The Epoch Times’ reported annual revenue increased by tens of millions of dollars in or around the same time the scheme began.



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