The CFO of Epoch Times is accused of involvement in a $67 million cryptocurrency fraud case

ChainCatcher news, according to CoinDesk, Epoch Times Chief Financial Officer Bill Guan has been charged with involvement in a $67 million cryptocurrency platform fraud scheme, which involved using cryptocurrency to purchase criminal proceeds at a discounted price and funneling them into company accounts, resulting in a significant increase in the annual revenue reported by Epoch Times.

Bill Guan was indicted by the U.S. Department of Justice early Tuesday morning. The department alleges that he was involved in a scheme to launder $67 million using cryptocurrency. Bill Guan faces charges of conspiracy to commit money laundering and bank fraud. According to the indictment from the U.S. Department of Justice, money laundering carries a maximum sentence of 20 years in prison, while each count of bank fraud carries a maximum sentence of 30 years in prison.