Participants in the scheme allegedly used stolen identities to open additional financial accounts which they then used to transfer the funds to bank accounts associated with the media company, and were sometimes laundered through Guan’s personal accounts and other company accounts, according to prosecutors.

According to the DOJ, Guan and others conspired with others to participate in a “sprawling, transnational scheme” to launder at least approximately $67 million of illegally obtained funds to Epoch Times’ bank accounts.

He was charged with one count of conspiring to commit money laundering, which carries a maximum sentence of 20 years in prison, and two counts of bank fraud, each of which carries a maximum sentence of 30 years in prison.