(WASHINGTON) Justice Dept Report: DPRK Intelligence Service Affiliated Businessman Accused of Using the U.S. Financial System and Deceiving U.S. Banks to Circumvent Sanctions Against North Korea #AceNewsDesk report

#AceNewsReport – Mar.23: The indictment alleges that Mun defrauded banks and laundered money in an effort to evade counter-proliferation sanctions imposed on North Korea by the United States and the United Nations,” said Assistant Attorney General John C. Demers for the Justice Department’s National Security Division. “We will continue to use the long reach of our laws to protect the American people from sanctions evasion and other national security threats.”

First North Korean National Brought to the United States to Stand Trial for Money Laundering Offenses: ‘After nearly two years of legal proceedings, Mun Chol Myong (Mun), 55, a national of the Democratic People’s Republic of Korea (DPRK), has been extradited to the United States’

This case represents the first ever extradition to the United States of a DPRK national. Mun is accused of laundering money through the U.S. financial system as part of a scheme to provide luxury items to the DPRK.

“We are pleased that Mun has been extradited and will stand trial for the offenses alleged in the indictment,” said Acting U.S. Attorney Channing D. Phillips for the District of Columbia. “The U.S. Attorney’s Office for the District of Columbia will always be prepared to protect our nation’s financial system and pursue those who violate our laws, regardless of where they might hide.”

“One of the FBI’s biggest counterintelligence challenges is bringing overseas defendants to justice, especially in the case of North Korea,” said Assistant Direction Alan E. Kohler Jr. of the FBI’s Counterintelligence Division. “Thanks to the FBI’s partnership with foreign authorities, we’re proud to bring Mun Chol Myong to the United States to face justice, and we hope he will be the first of many.”

“It is important to underscore the relevance of this first-ever extradition of a North Korean national,” said Special Agent in Charge Michael F. Paul of the FBI’s Minneapolis field office. “Our Minneapolis agents worked this case closely with international partners highlighting how FBI special agents are persistent and have an international impact wherever they are.”

According to the indictment and other court documents unsealed today, between April 2013 and November 2018, Mun and others conspired to covertly and fraudulently access the U.S. financial system. Mun is alleged to have defrauded U.S. banks and violated both U.S. and United Nations (U.N.) sanctions as part of his money laundering activities in transactions valued at over $1.5 million. The indictment further alleges that Mun was affiliated with the DPRK’s primary intelligence organization, the Reconnaissance General Bureau, which is the subject of U.S. and U.N. sanctions.

Mun has been detained in a foreign country since his arrest by local authorities on May 14, 2019. He made his initial appearance today in federal court in the District of Columbia, where he was indicted on May 2, 2019. Mun faces six counts of money laundering, including conspiracy to commit money laundering.

According to the indictment, Mun and his conspirators went to great lengths to avoid detection of their sanctions-busting operation. They used a web of front companies and bank accounts registered to false names and removed references to the DPRK from international wire transfer and transactional documents. By intentionally concealing that their transactions were for the benefit of DPRK entities, Mun and his conspirators deceived U.S. correspondent banks into processing U.S. dollar transactions for the benefit of DPRK entities, which the correspondent banks would have otherwise not processed.  

This investigation was conducted by the FBI’s Minneapolis Field Office and coordinated by the FBI’s Counterintelligence Division. The Department of Justice would also like to thank the U.S. Indo-Pacific Command and the FBI’s Investigative Operations Division for providing analytical support during the investigation. The Justice Department’s Office of International Affairs provided substantial assistance in securing Mun’s arrest and extradition. The FBI’s Washington Field Office also provided essential support during the extradition process.

Assistant U.S. Attorneys Michael P. Grady and Tejpal S. Chawla of the U.S. Attorney’s Office for the District of Columbia, and Trial Attorney David C. Recker of the National Security Division’s Counterintelligence and Export Control Section, with support from Paralegal Specialist Brian Rickers and Legal Assistant Jessica McCormick, are prosecuting the case. 

An indictment is merely a formal charge that a defendant has committed a violation of criminal laws and every defendant is presumed innocent until, and unless, proven guilty beyond a reasonable doubt in a court of law.

#AceNewsDesk report ……….Published: Mar.23: 2021:

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#doj, #dprk, #laundering, #money, #north-korea

‘ SWISS POLICE ARREST FIFTEEN PEOPLE & SEIZE HEROIN IN INTERNATIONAL RAIDS ‘

#AceWorldNews – SWITZERLAND – Nov.25 – Swiss police have arrested 15 people and seized 55kg of heroin in raids, Reuters reported.

An international network smuggling drugs from Turkey to the Alpine country was targeted.

In the town of Zug, south of Zurich, 20 homes were raided where caches of money, weapons as well as a dozen cars were seized.

The heroin had a street value of 10 million Swiss francs ($10.35 million), police said on Tuesday.

An investigation into the activities of the smuggling ring, one of the most active in the country, had been going on for six months.

#ANS2014 

#caches, #drugs, #money, #police, #raided

BRITAIN: ‘ FCA REGULATOR IMPOSES PRICE CAP ON PAY-DAY LOANS ‘

#AceFinanceNews – Nov.12 – BRITAIN: ‘ FCA REGULATOR IMPOSES PRICE CAP ON PAY-DAY LOANS ‘.

#borrowing, #debt, #finance, #loans, #money

SCOTLAND: ‘ Britain’s Banks Quietly Move Millions of Bank-Notes North of Border ‘

#AceNewsServices – SCOTLAND – September 16 – Britain’s banks have been quietly moving millions of banknotes north of the border to cope with any surge in demand by Scots to withdraw cash in the event of a Yes vote in Thursday’s independence referendum, it has emerged.

'Moving the Money Finally Britain Realises its a YES  '

‘Moving the Money Finally Britain Realises its a YES ‘

Sources told The Independent the moves have been taking place over the past week or so in order to make sure ATMs do not run out on Friday in the event of a panic reaction to a “yes” vote. There have been some suggestions that people will want to move their money to English banks in the event of an independence vote.

Bankers stressed there has been no sign yet of any increase in the amount of withdrawals from deposit accounts or ATMs, stressing that there was no need because the Bank of England has pledged to stand behind all accounts for at least 18 months in the event of a “yes” vote.

However, concerns about how safe is their cash still linger. It was this that led to RBS and Lloyds last week to reassure customers that they would be moving their registration addresses south of the border.

As a result, part of the banks’ contingency plans has been to ship more cash to secure locations in Scotland in readiness to keep up with the potential increase in demand.

Sources at major banks said they had been issuing clear instructions to their Scottish branches to reassure customers there was no reason to panic.

The revelation comes as David Cameron made an impassioned plea to the people of Scotland to reject independence, telling them that the UK was not just “any old country” and that millions of people would be “utterly heartbroken” if it was broken up. 

#ANS2014

#britain, #currency, #money, #scotland, #voters