A Russian national living in Manhattan has been accused of secretly moving over $530 million into the United States via his crypto payments firm, allegedly helping sanctioned Russian banks and companies gain access to sensitive American technology.
Iurii Gugnin, the 38-year-old founder of Evita Pay and Evita Investments, was arrested in New York and faces a 22-count indictment including charges of wire fraud, bank fraud, money laundering, and sanctions violations.
Federal prosecutors allege Gugnin used his businesses to conceal the flow of illicit funds through U.S. banks and crypto exchanges, largely using the stablecoin tether.
According to the U.S. Department of Justice, the operation wasn’t just about moving money — it allegedly helped Russian end-users obtain high-tech equipment subject to American export controls.
Prosecutors say Gugnin enabled the export of at least one anti-terrorism-controlled server and that some clients had direct links to sanctioned entities, including Sberbank, VTB, Sovcombank, Tinkoff, and state-owned nuclear agency Rosatom.
According to John A. Eisenberg, the assistant attorney general for national security, in a statement,
“The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology.”
He added,
“The Department of Justice will not hesitate to bring to justice those who imperil our national security by enabling our foreign adversaries to sidestep sanctions and export controls.”
Between June 2023 and January 2025, prosecutors say Gugnin processed transactions designed to hide the identity and origin of Russian clients.
He is accused of lying on regulatory paperwork, submitting false compliance records, and digitally altering more than 80 invoices to erase names of Russian counterparties.
Gugnin's LinkedIn profile, where he is known as 'George Goognin'.
Although Evita Pay was registered as a money-transmitting business in Florida, the DOJ claims Gugnin misrepresented the company’s operations during the application process.
Behind the scenes, the firm allegedly continued servicing Russian institutions already blacklisted under U.S. sanctions.
Court filings also reveal that Gugnin may have been aware of potential legal consequences long before his arrest.
Investigators discovered search history queries including “Am I being investigated?” and “signs you may be under criminal investigation,” as well as more detailed searches like “What are the best ways to find out if you’re being investigated and what can someone do when they think they might be under investigation.”
Source: pexels.com
These searches, according to the DOJ, reflected a consciousness of guilt and an understanding that he was under scrutiny.
Authorities say Gugnin maintained direct contact with members of Russia’s intelligence services and officials from Iran — both countries that do not have extradition agreements with the U.S.
Despite this, he was living openly in Manhattan and featured in a Wall Street Journal piece last year profiling luxury renters, reportedly paying $19,000 a month for an apartment.
Goognin in his luxury three-bedroom Manhattan apartment, which he rented for $19,000 monthly. (Source: The Wall Street Journal)
Gugnin is currently being held without bail pending trial in Brooklyn.
Each bank fraud charge carries a maximum 30-year prison sentence, with additional penalties of up to 20 years for wire fraud, 10 years for anti-money laundering violations, and 5 years for conspiracy to defraud the United States.
If convicted on all counts, he could receive a sentence that extends well beyond a single lifetime.
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