The Justice Department accused North Korean and Chinese nationals of laundering more than $2 billion to help fund North Korea’s nuclear weapons program.
The allegations were detailed in a 50-page indictment unsealed Thursday and show that the Trump administration has been unable to deter North Korea’s nuclear weapons program through sanctions and diplomacy.
Twenty-eight North Koreans and five Chinese nationals are accused of acting as agents of North Korea’s Foreign Trade Bank by allegedly setting up more than 250 front companies to launder at least $2.5 billion through the international banking system.
“Through this indictment, the United States has signified its commitment to hampering North Korea’s ability to illegally access the U.S. financial system, and to limit its ability to use proceeds from these illicit actions to enhance its WMD and ballistic missile programs,” acting U.S. Attorney Michael Sherwin said in a statement to the Washington Examiner.
The indictment also shows how China has assisted in the illegal network. United Nations members were supposed to ban branches of North Korean banks in their countries, but the indictment said such branches are still operating in some parts of China.
Though none of the defendants have been arrested, the charges could limit their travel abroad.
President Trump has met twice with Kim Jong Un since 2018 to try to convince North Korea to dismantle its nuclear weapons program. Both meetings ended with no resolution.
