As stated in the indictment,
“From at least in or about 2020, through in or about May 2024, GUAN, while working as the Chief Financial Officer of a multinational media company headquartered in New York, New York (the “Media Company”), conspired with others to participate in a sprawling, transnational scheme to launder at least approximately $67 million of illegally obtained funds to bank accounts in the names of the Media Company and related entities.”
Guan, who managed the “Make Money Online” team at The Epoch Times, allegedly used stolen personal information to open accounts and transfer illicit funds. When questioned by banks about the influx of transactions, Guan is accused of lying, claiming the funds were legitimate donations. As US Attorney Damian Williams said,
“When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from legitimate donations to the media company.”
In 2022, he falsely stated in a letter to a congressional office that “donations constitute ‘an insignificant portion of the overall revenue’ of the Media Company.”
The Epoch Times, a conservative media organization linked to the Falun Gong spiritual movement, has stated its commitment to cooperating fully with the investigation and has suspended Guan pending the resolution of the matter. The charges against Guan do not pertain to the company’s journalistic activities.
If convicted, Guan faces a maximum sentence of 20 years for money laundering and 30 years for each bank fraud charge. He pleaded not guilty and was granted a $3 million personal recognizance bond with travel restrictions confined to parts of New York and New Jersey.
