Epoch Times CFO arrested for money laundering allegations

The Epoch Times is a newspaper available in 23 languages, founded in 2000. An executive at The Epoch Times, Weidong "Bill" Guan, was arrested for a money-laundering scheme involving $67 million. This raised concerns about the company's future due to its ties to Trump and spreading conspiracy theories. The company's revenue surged from $4 million in 2016 to $128 million in 2021, with much money coming from the "Make Money Online" team run by Guan. The founder of The Epoch Times, John Tang, practices Falun Gong, a form of meditation. The company has distanced itself from Falun Gong but highlights the persecution of its practitioners by the Chinese Communist Party. The outlet covers various news topics, not just one issue. Despite spreading false stories and conspiracy theories, its influence is mainly on those opposing the Chinese government. Guan, the CFO, was accused of laundering money through fraudulent unemployment benefits. The company stated it would cooperate with the investigation, and Guan was suspended pending the case's resolution. The charges are unrelated to the company's news reporting. The Epoch Times saw a significant revenue increase during the alleged money laundering period. In a separate incident, Guan was arrested for his involvement in a money laundering scheme, accused of laundering $67 million. The scheme involved using fraudulently obtained funds, including unemployment benefits, and transferring them through bank and cryptocurrency accounts. The charges are not related to the company's news activities. The Epoch Times emphasized its commitment to integrity and cooperation with the investigation.