Iurii Gugnin, founder of Evita Pay, has been arrested in New York for allegedly laundering approximately $530 million into the United States from sanctioned Russian banks. The funds were reportedly used to help Russians access critical American technology, posing a threat to national security. Gugnin faces a 22-count indictment related to wire and bank fraud, money laundering, and operating an unlicensed money transmitting business. If convicted, he could face life imprisonment. From June 2023 to January 2025, Gugnin allegedly transformed his crypto firm into a 'covert pipeline for dirty money', processing Tether transactions for Russian clients connected to major banks like VTB and Sovcombank. Despite registering Evita Pay as a money transmitting business in Florida, he is accused of misrepresenting its connections to Russia and violating Anti-Money Laundering regulations. There are claims that Gugnin was aware of the potential investigation into his actions, as indicated by his online searches about being under investigation.

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