US seizes $2.4 million from four Pyongyang-linked front companies



News US seizes $2.4 million from four Pyongyang-linked front companies The companies, which the U.S. does not name, have extensive ties to well-known sanctions busters, court records show Ethan Jewell January 7, 2022 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Pixabay A U.S. district court ruled on Thursday that $2.4 million in funds linked to a North Korean money laundering scheme must be forfeited to the U.S. government, court records show, in the latest blow to the Kim Jong Un regime’s network of overseas front companies. The ruling comes after a Federal Bureau of Investigation (FBI) investigation uncovered a series of wire transfers between four unnamed companies acting on behalf of North Korea’s Foreign Trade Bank (FTB). A U.S. district court ruled on Thursday that $2.4 million in funds linked to a North Korean money laundering scheme must be forfeited to the U.S. government, court records show, in the latest blow to the Kim Jong Un regime’s network of overseas front companies. The ruling comes after a Federal Bureau of Investigation (FBI) investigation uncovered a series of wire transfers between four unnamed companies acting on behalf of North Korea’s Foreign Trade Bank (FTB). Become a member for less than $4 per week. Unlimited access to all of NK News: reporting, investigations, analysis The NK News Daily Update, an email newsletter to keep you in the loop Searchable archive of all content, photo galleries, special columns Contact NK News reporters with tips or requests for reporting Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts. Subscribe now All major cards accepted. No commitments – you can cancel any time. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

News

US seizes $2.4 million from four Pyongyang-linked front companies

The companies, which the U.S. does not name, have extensive ties to well-known sanctions busters, court records show

Ethan Jewell January 7, 2022

US seizes $2.4 million from four Pyongyang-linked front companies

A U.S. district court ruled on Thursday that $2.4 million in funds linked to a North Korean money laundering scheme must be forfeited to the U.S. government, court records show, in the latest blow to the Kim Jong Un regime’s network of overseas front companies.

The ruling comes after a Federal Bureau of Investigation (FBI) investigation uncovered a series of wire transfers between four unnamed companies acting on behalf of North Korea’s Foreign Trade Bank (FTB).

Become a member for less than $4 per week.

Unlimited access to all of NK News: reporting, investigations, analysis
The NK News Daily Update, an email newsletter to keep you in the loop
Searchable archive of all content, photo galleries, special columns
Contact NK News reporters with tips or requests for reporting

Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.

Subscribe now

All major cards accepted. No commitments – you can cancel any time.

US seizes $2.4 million from four Pyongyang-linked front companies

Become a member for less than $4 per week.

Start your day with the North Korea stories that matter most –

as selected by <img width="226" height="50" class="logo" src="https://www.nknews.org/wp-content/themes/nknews/images/header-logo.png" alt="NK News Logo">

One more step!

Trending

Recent Stories

About the Author

Ethan Jewell

Start your day with
the North Korea stories that matter most –

as selected by