US Indicts 33 North Korean and Chinese Figures in $3.1 Trillion Money Laundering Case

[Image source=Yonhap News]

[Asia Economy New York=Special Correspondent Baek Jong-min] The U.S. Department of Justice has indicted more than 30 North Koreans and Chinese nationals on money laundering charges amounting to $2.5 billion (3.1 trillion KRW).

According to Bloomberg News on the 28th (local time), the U.S. Department of Justice indicted 28 North Korean nationals and 5 Chinese nationals for establishing over 250 shell companies worldwide to launder $2.5 billion.

The Department of Justice determined that the laundered funds flowed into the North Korean Chosun Trade Bank (FTB) and were used to support the weapons of mass destruction (WMD) program.

The Washington Post, citing U.S. officials, reported that this is the largest North Korean sanctions violation case prosecuted by the United States.

Among those indicted are former FTB presidents Ko Cheol-man and Kim Seong-ui, as well as two former vice presidents. Additionally, Han Ki-song, who is known to have operated a secret FTB branch in Thailand, has been identified as affiliated with North Korea’s intelligence agency.

Michael Sherwin, Acting U.S. Attorney for Washington D.C., stated, "This indictment demonstrates the United States’ commitment to disrupting North Korea’s ability to illicitly access the U.S. financial system and to limiting North Korea’s ability to profit from illegal activities that enhance its illicit weapons of mass destruction programs."

This content was produced with the assistance of AI translation services.