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US Accuses Chinese Company of Laundering North Korean Funds

  • VOA News

In this undated file photo, men share newspaper outside a branch of the state-run Bank of China, which recently halted business with the Foreign Trade Bank of North Korea.

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.

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