1. US accuses Chinese company of transferring North Korean money

US accuses Chinese company of transferring North Korean money

US authorities have accused a Chinese company of helping North Korea evade financial sanctions and asked a court to seize $1.9 million they said was improperly moved through American financial institutions.

By: | Beijing | Published: June 16, 2017 11:25 AM
Chinese company, transferring North Korean money, North Korean money, North Korea, US accuses Chinese company A complaint released yesterday in Washington accused Mingzheng International Trading Ltd. of conducting transactions for North Korea’s state-owned Foreign Trade Bank, the country’s main foreign-exchange bank. (Reuters)

US authorities have accused a Chinese company of helping North Korea evade financial sanctions and asked a court to seize $1.9 million they said was improperly moved through American financial institutions. A complaint released yesterday in Washington accused Mingzheng International Trading Ltd. of conducting transactions for North Korea’s state-owned Foreign Trade Bank, the country’s main foreign-exchange bank.

The bank is barred from the US financial system under sanctions imposed in response to the North’s nuclear weapons development. The Department of Justice said the case would represent one of the largest US seizures of North Korean funds.

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