Federal prosecutors have charged Iurii Gugnin, a 38-year-old Russian national residing in Manhattan, with operating a massive international money laundering operation through his cryptocurrency payment companies, Evita Investments and Evita Pay. Authorities allege Gugnin moved over $530 million between June 2023 and January 2025, primarily using Tether, a U.S. dollar-pegged stablecoin.
Gugnin was arrested on Monday and has been ordered held without bail pending trial. He faces a 22-count federal indictment that includes charges of wire fraud, bank fraud, violating U.S. sanctions, money laundering, and failing to implement anti-money laundering protocols required by U.S. law.
According to prosecutors, Gugnin’s operations served as a covert channel for sanctioned Russian banks and entities, including Sberbank, VTB Bank, Sovcombank, Tinkoff, and even Rosatom, Russia’s state-owned nuclear energy firm. He allegedly falsified compliance documents, misrepresented his company’s business to U.S. banks, and used shell accounts and doctored invoices to conceal the origins of funds.
Assistant Attorney General Nicole Argentieri stated, “The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money.” Gugnin allegedly assisted Russian clients in acquiring sensitive U.S. technology, including items restricted under anti-terrorism export controls, such as secure servers and other high-tech equipment.
Further evidence showed that Gugnin searched the internet for phrases like “how to know if there is an investigation against you” and “money laundering penalties US,” which prosecutors argue indicates an awareness of potential criminal wrongdoing. He is also said to have maintained direct ties with Russian intelligence officers and Iranian officials, raising national security concerns.
Gugnin came into the public eye in 2024 when The Wall Street Journal profiled him as a high-end Manhattan renter, reportedly paying $19,000 per month for a luxury apartment.
If convicted on all charges, Gugnin could face decades behind bars, with a maximum sentence far exceeding 30 years due to the seriousness and scale of the crimes.
