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US Media Executive Caught Red Handed in $67 Million Cryptocurrency Money Laundering Scheme Because Who Needs Integrity When You Can Just Call It Fiat-to-Crypto

Crypto NewsHackRegulation/Negotiation 4 Sam Rogers August 16, 2024

An illustration: A bespectacled man wearing a suit and tie sits at his desk surrounded by stacks of cash and cryptocurrency tokens as he holds up a large wad of money in one hand. In the background, an image of a piggy bank with its mouth open wide is visible through a window while on the wall opposite him hangs a framed picture showing a graph sharply increasing upwards indicating financial growth. The man's fingers are stained green from handling cash and his suit has several stains as well;

The crypto bros can’t even keep their own house clean from scammers and now we have one running it like his personal piggybank! And what’s next? They’ll say that cryptocurrency has value because… wait for it… people are using it to launder money?! It seems the only thing more abundant than worthless cryptocurrencies is the number of crimes committed with them. In this case, a CFO at Epoch Times used stolen ID info and bank accounts to transfer $67 million in dirty cash into his company’s coffers! Talk about ‘fiat-to-crypto’… how about fiat-from-crime instead? The US Attorney says Guan benefited himself and the media company by laundering tens of millions. But let’s be real, he was just doing what comes naturally: making money from nothing using worthless numbers on a computer

Source: bitcoin.com

US Media Executive Charged in $67 Million Fiat-to-Crypto Money Laundering Scheme
https://news.bitcoin.com/us-media-executive-charged-in-67-million-fiat-to-crypto-money-laundering-scheme
The U.S. DOJ has charged the CFO of a media company with one count of money laundering and two counts of bank fraud for participating in a scheme that laundered criminal proceeds using cryptocurrency. Authorities allege that Weidong Guan and his accomplices used bank accounts opened with stolen personal identification information to transfer the funds to the media company’s accounts. The U.S. Department of Justice (DOJ) announced on June 3 […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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