U.S. charges founder of crypto company Evita with laundering $500 million for Russian clients

Federal prosecutors have charged Iurii Gugnin, a New York resident and Russian national, with 22 criminal counts, including wire and bank fraud, money laundering, and conspiracy to defraud the U.S.

According to a Justice Department press release, Gugnin is the founder and owner of the cryptocurrency company Evita. The FBI alleges that he used the company as a front to launder hundreds of millions of dollars for Russian entities under U.S. sanctions and to help the Russian government obtain export-controlled technologies.

The charges include violations of the International Emergency Economic Powers Act (IEEPA), operating an unlicensed money transmitting business, illegal fund transfers, failure to file suspicious activity reports, and related conspiracy charges.

Federal investigators say that between June 2023 and January 2025, roughly $530 million in foreign funds was moved through U.S. banks and cryptocurrency exchanges via Evita. Gugnin allegedly misled financial institutions by claiming that his firm had no dealings with Russian companies or sanctioned organizations. In reality, many of Evita’s clients were based in Russia, and Gugnin is accused of helping transfer funds held in sanctioned banks.

He is also accused of facilitating purchases of electronics subject to export restrictions and of laundering funds linked to a supplier for Rosatom, Russia’s state nuclear energy corporation.

Prosecutors say Gugnin was fully aware that his activities were illegal, pointing to his Internet search history as evidence. He reportedly searched for phrases such as “how to know if there is an investigation against you,” “evita investments inc. criminal records search,” and “money laundering penalties US.” He also visited websites with titles like “signs you may be under criminal investigation.”

If convicted, Gugnin could face up to 30 years in prison for each count of bank fraud, up to 20 years for wire fraud, money laundering, IEEPA violations, and related conspiracy charges, and up to 10 years for failing to meet anti-money laundering obligations. He also faces up to five years for conspiring to defraud the United States and operating an illegal money-transfer business.