The Department of Justice has indicted five Chinese nationals and more than two dozen Koreans for allegedly laundering billions of dollars to support North Korea’s nuclear program.
The illegal payments totaled $2.5 billion and involved the criminals illegally bankrolling North Korea’s nuclear program, which created instability in the region for years.
The DOJ has stated the agents for North Korea’s Foreign Trade Bank created 250 front companies and fraudulent bank branches worldwide to launder the money through U.S. financial institutions.
“Through this indictment, the United States has signified its commitment to hampering North Korea’s ability to illegally access the U.S. financial system, and to limiting its ability to use proceeds from these illicit actions to enhance its illegal weapons of mass destruction program,” said acting U.S. Attorney Michael R. Sherwin.
The indictments are important since North Korea has used money laundering schemes like this one to get around U.S. sanctions designed to prevent it from furthering its nuclear program.
According to the 50-page indictment, it is alleged that the individuals worked as agents for North Korea’s Foreign Trade Bank (FTB), a sanctioned entity that holds the majority of the regime’s foreign currency reserves. In what is the largest North Korean sanctions violations case brought by the U.S., agents are accused of creating over 250 front companies and covert bank branches around the world to funnel through payments passing through the American financial system.
The companies — set up in countries including Kuwait, Thailand, and Austria — were used “to procure commodities and facilitate payments in U.S. dollars on behalf of parties in North Korea,” according to court documents. Other involved organizations included several Chinese banks as well as telecommunications giants Huawei Technologies Co. and ZTE Corp, underlining Beijing’s continued commitment to protecting its communist ally from international sanctions.
Individuals charged in the documents include two former FTB presidents, Ko Chol Man and Kim Song Ui; two former co-vice presidents, Han Ung, and Ri Jong Nam; and Han Ki Song, who allegedly oversaw the FTB’s covert branch operation in Thailand and worked for North Korea’s primary intelligence agency.
Barr has been very busy lately.
Barr is promising justice in the case of George Floyd, a black man who was killed in a confrontation with Minneapolis police.
The attorney general said that the thugs who are ransacking the nation during these riots are also going to face justice.
There is no doubt that Antifa is behind much of the vicious rioting, looting, and ransacking that is happening nationwide.
But this is not the Obama administration and they will not escape justice from Barr’s Department of Justice.
President Donald Trump announced Sunday that the U.S. government will designate the far-left group Antifa as a terrorist organization.
“The United States of America will be designating ANTIFA as a Terrorist Organization,” Trump tweeted Sunday afternoon.