The former chief financial officer of The Epoch Times pleaded guilty on July 9, 2026, to participating in a $67 million multinational money laundering scheme. The plea was entered in federal court, where the defendant admitted to conspiracy to commit money laundering and related fraud charges.
Details of the Scheme
According to court documents, the CFO conspired with others to launder proceeds from criminal activities through a network of shell companies and bank accounts across multiple countries. The scheme involved converting illicit funds into cryptocurrency and real estate investments to obscure their origin. The total amount laundered reached $67 million, with transactions spanning the United States, Canada, and several Asian nations.
Prosecutors stated that the defendant used his position at The Epoch Times to facilitate the laundering, including by directing payments through the newspaper's accounts. The CFO faces up to 20 years in prison for the money laundering conspiracy charge, with sentencing scheduled for later this year.
Impact and Reactions
“This guilty plea demonstrates that no one is above the law, even those in positions of financial trust at media organizations,” said the U.S. Attorney in a press release. The case has raised questions about oversight at The Epoch Times, which has not commented on the plea. The newspaper continues to operate while the investigation into other potential co-conspirators remains ongoing.
