Bill Guan, the chief financial officer of the Epoch Times, has been charged with money laundering and bank fraud. The Southern District of New York has issued a statement stating that Guan has been charged with one count of conspiring to commit money laundering, which has a maximum prison sentence of 20 years, and two counts of bank fraud, each carrying a maximum prison sentence of 30 years. The Epoch Times, founded in 2000 by John Tang, is affiliated with the Chinese Falun Gong new religious movement and is known for its writings, strong antagonism to the Chinese Communist Party, and adherence to socially conservative principles. As of late 2023, the publication ranks fourth in terms of circulation in the United States.
U.S. Attorney Damian Williams, the individual who filed the charges, further stated: "As alleged, Bill Guan, the Chief Financial Officer of a global newspaper and media company, conspired with others to benefit himself, the media company, and its affiliates by laundering tens of millions of dollars in fraudulently obtained unemployment insurance benefits and other crime proceeds. When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from legitimate donations to the media company. Today’s charges reflect this Office’s ongoing commitment to vigorously enforcing the laws against those who facilitate fraud through money laundering and to protecting the integrity of the U.S. financial system."
U.S. Attorney Damian Williams, the individual who filed the charges, further stated: "As alleged, Bill Guan, the Chief Financial Officer of a global newspaper and media company, conspired with others to benefit himself, the media company, and its affiliates by laundering tens of millions of dollars in fraudulently obtained unemployment insurance benefits and other crime proceeds. When banks raised questions about the funds, Guan allegedly lied repeatedly and falsely claimed that the funds came from legitimate donations to the media company. Today’s charges reflect this Office’s ongoing commitment to vigorously enforcing the laws against those who facilitate fraud through money laundering and to protecting the integrity of the U.S. financial system."
