Washington, D.C. — On April 29, 2026, a federal jury in the District of Columbia acquitted Guanghua Jin of conspiracy to commit bank fraud, the lead charge in a long-running prosecution arising from alleged sanctions-related conduct. The jury was unable to reach a unanimous verdict on the remaining counts. The verdict followed Mr. Jin’s second trial, after a previous jury likewise failed to reach a verdict as to him.
Mr. Jin was represented by Eugene Gorokhov and Ziran Zhang, with assistance from attorneys Jonathan Knowles and Eric Singerman.
Federal prosecutors alleged that, between 2009 and 2019, Mr. Jin owned several China-based companies that sold commodities, primarily tobacco products, to a North Korean company. According to the government, certain transactions associated with those sales—totaling more than $70 million—were processed through U.S. financial institutions. The Department of Justice alleged that Mr. Jin’s companies utilized intermediary entities, characterized by the government as “front companies,” to evade sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), defraud U.S. banks, and facilitate money laundering.
A 2023 indictment charged Mr. Jin with conspiracy to commit bank fraud, conspiracy to violate the International Emergency Economic Powers Act (IEEPA), substantive IEEPA violations, and conspiracy to commit money laundering.
Prior to the first trial, the Court dismissed five money laundering counts, agreeing with the defense that venue in the District of Columbia was improper for those charges. At the conclusion of the second trial, the jury acquitted Mr. Jin of conspiracy to commit bank fraud.
Following the partial acquittal, Mr. Jin and the government reached a resolution through a plea agreement on the remaining charges.
Eugene Gorokhov, counsel for Mr. Jin, issued the following statement:
“This outcome reflects the dedication and hard work of Mr. Jin’s defense team over nearly two years of litigation and two jury trials. We are grateful for the jury’s careful consideration of the evidence and its commitment to reaching a fair and just result. With this resolution—which accounts for the time Mr. Jin spent in custody pending extradition and trial—this long-running matter is finally behind him. Mr. Jin can now return to his family and focus on the next chapter of his life.”
Burnham & Gorokhov is an association of independent law firms consisting of Gorokhov PC and Charles Burnham PLLC. The attorneys represent clients in complex federal criminal matters nationwide, including investigations and prosecutions involving economic sanctions, international trade and export controls, bank fraud, money laundering, and other white-collar offenses. The firm’s experience includes defending individuals and companies facing allegations arising from cross-border business transactions, regulatory compliance issues, and sophisticated financial investigations conducted by the Department of Justice and other federal agencies.