Feds Seek To Seize $1.9M From Chinese Co. Tied To N. Korea

Law360, New York (June 15, 2017, 8:10 PM EDT) -- The U.S. government announced a civil forfeiture action on Thursday targeting $1.9 million from a Chinese company that prosecutors say laundered money for a banned North Korean bank and helped telecommunications company ZTE Corp. evade sanctions.

Citing “two reliable confidential sources,” the government says Mingzheng International Trading Ltd.made $1.9 million worth of U.S. currency transactions on behalf of North Korea's government-run Foreign Trade Bank. The government now seeks to seize the funds, which prosecutors say are being held at six U.S. banks.

The transfers violated sanctions...
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