Epoch Times’ executive Bill Guan charged in US with US$67 million money laundering in alleged ‘sprawling scheme’
The indictment, issued by the Southern District of New York, went on to say that after the MMO team began its operations, The Epoch Times’ internal accounts showed a year-on-year jump in revenues of more than 400 per cent, to around $62 million.
Guan “conspired with others to benefit himself, the media company and its affiliates by laundering tens of millions of dollars in fraudulently obtained unemployment insurance benefits and other crime proceeds”, 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,” Williams added.
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Printing plant of China-critic newspaper Epoch Times ransacked in Hong Kong
In a statement sent to several media outlets on Monday, the Epoch Times said it had suspended Guan “until this matter is resolved”, and that it “intends to and will fully cooperate with any investigation dealing with the allegations against Mr Guan”.
The Falun Gong movement was founded on the mainland in 1992. As its followers grew and it began demanding legal recognition and the freedom to organise its activities, Beijing labelled the group a “heretical organisation” and banned it on the mainland as an “evil cult” in 1999.