How a Russian National Allegedly Used Tether to Launder $530M in Crypto

Key takeaways

• Iurii Gugnin allegedly used his crypto firm to move $530 million through US banks and crypto exchanges using Tether (USDT), facilitating payments for Russian clients tied to sanctioned banks.

• Gugnin allegedly failed to implement AML regulations and didn’t file suspicious activity reports (SARs), violating the Bank Secrecy Act and misleading financial institutions.

• Gugnin also reportedly accessed websites that provided information on indicators of criminal investigation and methods for detecting law enforcement surveillance.

• Gugnin faces…