A pro-Trump media organization is reportedly involved in a multi-million dollar money laundering operation.
In a shocking revelation, the Department of Justice recently accused The Epoch Times of causing significant gains from a multi-national $67 million money laundering plot orchestrated by its financial manager, Weidong Guan.
As per the indictment, Guan, along with his co-conspirators at The Epoch Times, intentionally purchased artificially created funds through "huge amounts" of transactions, which then moved into the outlet's bank accounts. The Department of Justice states that they used various methods, including exploiting identity theft and prepaid debit cards, to execute the sophisticated scheme.
The intricate plan significantly boosted revenue for the media group, as it reported a remarkable 410% increase in just one year. Previously operating as a lesser-known print publication focused on promoting the Falun Gong, a religion banned in China, The Epoch Times transformed into a digital behemoth witnessing a massive increase in revenue alongside the rise of support for the disgraced former President Trump and the MAGA movement. It was referred to as "one of the most influential digital publishers in the country" by The New York Times, and The Atlantic called it a "pro-Trump propaganda machine."
Gaining popularity through relentless coverage of Trump and his movement, the nonprofit outlet amassed millions of readers on Facebook. This led to purchasing millions of dollars' worth of ads on the social media platform, leading to increased visibility and exposure. It also enabled The Epoch Times to outperform more established news sources, regularly topping the charts as its stories spread widely among readers.
However, Facebook banned the organization in 2019 after facing the scrutiny of NBC News, which disclosed how The Epoch Times tried to cover up almost $2 million worth of ads pushing Trump and conspiracy theories about his political adversaries.
Despite claiming to stand for ethical journalism with journalists who adhere to the highest ethical standards, The Epoch Times appears to be dealing with a web of controversy. Although The Epoch Times insists that this is a confused matter, admitting Guan's suspension from the organization, the indictment suggests that it was a widespread connivance. It also hints that senior management at the company should have detected the significant scale of wrongdoing since several noteworthy individuals and organizations had notified The Epoch Times about their concerns.
The outlet has yet to respond to inquiries regarding its financial status, whether any of its assets are being frozen, or whether other employees involved in the alleged money laundering conspiracy have been suspended. John Tang, the CEO, and Jasper Fakkert, the editor-in-chief, remained unresponsive to multiple emails in response to basic information.
The relationships with collaborating companies such as Outfront Media, which sells billboard space across the country, and PayPal, which handles the processing of online donations for the organization, are uncertain. No response was received from either of these organizations when asked if they plan to continue working with The Epoch Times.
When asked if further charges might be brought against the outlet or its leaders after the extensive reach of the alleged scheme, a spokesperson from the Department of Justice declined to comment. One might wonder if more leaders at the organization, or the nonprofit itself, could be charged with legal repercussions.
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The Department of Justice's allegations have put The Epoch Times' business relationship with financial institutions under scrutiny, potentially impacting its ability to conduct regular financial transactions.
The Epoch Times, often described as a prominent player in the media business, now faces questions about its financial integrity following the money laundering accusations.
