Firm charged over payment linked to N. Korea arms cargo
Cargo included two MiG-21 jet fighters, anti-tank rockets as well as SA-2 and SA-3 Russian surface-to-air missile systems
Firm charged over payment linked to N. Korea arms cargo
In the first case of its kind, a Singapore-registered shipping firm is being prosecuted for facilitating payment for costs linked to the shipment of arms and related material to North Korea from Cuba.
Chinpo Shipping Company is alleged to have transferred US$72,017 (S$98,800) from its Bank of China account to that of a shipping agent in Panama – C.B. Fenton and Co – on July 8, 2013.
Under the United Nations’ regulations, it is an offence to transfer financial assets that could help North Korea in its nuclear and ballistic programmes, or efforts to produce other weapons of mass destruction.
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Source: straitstimes.com
