According to the DOJ, banks became suspicious when the revenue for the Epoch Times increased 410% — from around $15 million to around $62 million — from the previous year.
DOJ indicts Epoch Times executive for crypto scam
Widong "Bill" Guan, Chief Financial Officer of the far-right Epoch Times media company, has been indicted on money laundering conspiracy and bank fraud charges for his alleged involvement in a cryptocurrency scam and money laundering operation. According to the Justice Department, Guan used cryptocurrency to purchase prepaid debit cards that were loaded with fraudulently obtained unemployment insurance benefits. Guan and others then laundered the funds through bank accounts they'd fraudulently opened using stolen personal information.
- "Chief Financial Officer Of Multinational Media Company Charged With Participating In Scheme To Launder At Least $67 Million In Fraud Proceeds", U.S. Attorney's Office, Southern District of New York [archive]