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North Korean Ship Owner Routed Payment Through New York Banks: US Officials

By Daniel Bethencourt

CORRECTION APPENDED: Three unwitting banks in the United States processed transactions tied to at least $750,000 in maintenance costs for one of North Korea’s largest vessels before its seizure by U.S. authorities Thursday, New York federal prosecutors said. A forfeiture complaint against the 17,000-ton M/V Wise Honest alleges that since November 2016 the vessel has operated under the nominal control of Wise Honest International Ltd., a Hong Kong-based firm that U.S. officials contend is little more than a front for the Korea Songi General Trading Corporation, which they blacklisted the following June. One of the Songi's managers, Kwon Chol Nam,...

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