US Accuses Chinese Company of Laundering North Korean Funds

The United States is accusing a Chinese company of laundering funds from a North Korea bank through U.S. financial institutions.

U.S. officials have filed a complaint and are asking a court to seize $1.9 million Mingzheng International Trading Limited improperly moved on behalf of Foreign Trade Bank, a sanctioned, state-owned North Korea financial institution.

The North Korean bank is prohibited from engaging in transactions with the U.S. financial system under sanctions imposed in response to North Korea’s nuclear weapons development.

The U.S. Justice Department said the case would represent “one of the largest seizures of North Korean funds” by the agency.

Let's block ads! (Why?)

Read More US Accuses Chinese Company of Laundering North Korean Funds : http://ift.tt/2ttVA7y