US accuses Chinese company of money-laundering for North Korea

By REUTERS
June 16, 2017 05:04




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Breaking news. (photo credit: JPOST STAFF)

The United States has accused a Chinese-based company of acting as a front for laundering money on behalf of a sanctioned North Korean bank and has filed a complaint seeking $1.9 million from it, US prosecutors said on Thursday.

Mingzheng International Trading Limited has facilitated prohibited dollar transactions through the United States on behalf of the Foreign Trade Bank, a North Korean bank, and laundered the proceeds, the US.Attorney's Office in the District of Columbia said in a statement.

The $1.9 million forfeiture action "represents one of the largest seizures of North Korean funds by the Department of Justice," it said.

The sum was transacted in 2015 by Mingzheng, based in the Chinese city of Shenyang, via wire transfers, using their Chinese bank accounts, the statement said.


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