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US accuses Chinese company of transferring NKorean money

AP  |  Beijing 

US authorities have accused a Chinese company of helping North Korea evade financial sanctions and asked a to seize USD 1.9 million they said was improperly moved through American financial institutions.

A complaint released yesterday in accused Mingzheng International Trading Ltd. Of conducting transactions for North Korea's state-owned Foreign Trade Bank, the country's main foreign-exchange


The is barred from the US financial system under sanctions imposed in response to the North's nuclear weapons development.

The Department of Justice said the case would represent one of the largest US seizures of North Korean funds.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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