September 29, 2020

US accuses two HK firms of selling $300M+ of American tech to North Korea

Couple used front companies to acquire millions of dollars worth of U.S. telecommunications equipment for North Korea

The U.S government on Friday accused two Hong Kong front companies of procuring over $300 million of American telecommunications equipment for North Korea in defiance of sanctions, naming a married couple of PRC nationals who spearhead the scheme involving Chinese telecoms giant ZTE.

Previously frozen assets from Ryer and Rensy International Trading companies and Tang Xin and Li Xichun, totaling nearly a million dollars combined, will be forfeited by the U.S. for facilitating indirect sales of U.S.-origin equipment to North Korea, the court complaint showed.