US Seeks Nearly $1 Million in Forfeiture From Companies Involved in North Korea Sanctions Evasion
The U.S. is seeking to seize more than $955,000 belonging to two China-based companies for acting as intermediates for North Korea’s purchase of telecommunications equipment from ZTE, the Department of Justice said Sept. 11. The companies -- Ryer International Trading…
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Limited and Rensy International Trading Co., Limited -- allegedly helped North Korea illegally buy millions of dollars worth of U.S.-origin parts from ZTE between 2010 and 2016 by negotiating contracts, processing payments and receiving goods on behalf of North Korean customers. DOJ alleged Ryer and Rensy also acted as conduit for North Korean money laundering through sanctioned North Korean banks.