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China-Japan-Koreas |
US probing links between Chinese banks, Pyongyang |
2005-09-10 |
![]() Nope, wudn't us! The banks, which could face stiff sanctions, are caught up in a US operation to shut down lucrative North Korean enterprises producing narcotics, counterfeit US currency and fake cigarettes, the newspaper said. It said law-enforcement officials from several countries described the wide-ranging US operation, while several North Korean defectors gave accounts of Pyongyang's financial network. One of the Macau lenders, Banco Delta Asia, is controlled by Stanley Au a major player in the Hong Kong financial markets who is also a legislator in Macau and serves as an adviser to the Chinese government. The other bank, Seng Heng Bank, is controlled by billionaire gambling tycoon Stanley Ho, who started a casino in Pyongyang and has close ties to Pyongyang and Beijing. A spokesman for Seng Heng Bank told the newspaper: "We have nothing to provide you. We have no comment." We can say no more! |
Posted by:DanNY |