Former Epoch Times Chief Financial Officer Weidong Guan, also known as “Bill Guan,” pleaded guilty on July 9, 2026, to one count of conspiring to engage in transactions involving criminal proceeds for his role in a transnational money-laundering scheme involving approximately $67 million in criminal proceeds, according to the U.S. Attorney’s Office for the Southern District of New York (“USAO”). Guan, 63, of Secaucus, New Jersey, formerly served as CFO of The Epoch Times Association, Inc., an international media company headquartered in New York. According to federal prosecutors, the funds scheme was intended to benefit, among others, the Epoch Times. Federal prosecutors also indicated that Guan agreed to forfeit at least $67 million and separately pay restitution of up to $67 million. The USAO emphasized that the criminal conduct at issue did not relate to the company’s newsgathering activities. On July 20, 2026, the court scheduled Guan’s sentencing hearing for December 4, 2026.
On June 3, 2024, federal prosecutors announced the unsealing of an indictment charging Guan for his role in the money laundering scheme. According to the indictment, from at least 2019 through about May 2024, Guan conspired with others to launder criminal proceeds into bank accounts held in the names of the Epoch Times and related entities. Guan and his conspirators allegedly used funds in Epoch Times’ accounts to purchase tens of millions of dollars in criminal proceeds that were loaded onto gift cards and prepaid debit cards at discounted rates. According to federal prosecutors, the criminal proceeds were often laundered through Guan’s personal bank accounts and cryptocurrency accounts before they were moved back to Epoch Times under the guise of fake “donations.” Guan is also accused of providing false explanations to banks when questioned about the suspicious transactions.
Guan’s co-defendant and co-conspirator Le Van Hung, also known as “Hung Van Le” and “Van Hung Le,” pleaded guilty on June 29, 2026, to participating in a conspiracy to commit identity theft for his role in the laundering scheme. According to federal prosecutors, he is scheduled to be sentenced on October 9, 2026.
USAO SDNY Press Release | Indictment – Guan | Sentencing | Indictment – Hung