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View more articles by Jacob Fromer
Jacob Fromer is NK News's Washington DC correspondent. He previously worked in the U.S. Senate.
North Korea engaged in a "multi-year scheme" to evade global financial sanctions and funnel $2.5 billion from abroad into the country, the U.S. Department of Justice alleged in a new criminal indictment unsealed on Thursday.
The allegations state that 33 individuals -- five Chinese nationals and 28 North Koreans -- engaged in a sprawling plot across a half-dozen countries to open covert branches of a major North Korean bank, illegally access potentially billions of dollars in hard currency, and siphon the funds back to the DPRK.