Chinese Arms Shipper to Iran Indicted -- But Maybe Untouchable
Evidently New York banks aren't just good for imploding the world economy and then sucking up taxpayer money in order to rebuild. They're also a good way to send and receive illegal payments.
Chinese citizen Li Fang Wei, the manager of Chinese company LIMMT, has just been indicted by the Manhattan DA's office for using Manhattan banks to execute dozens of transactions even though he and his company were long ago bounced by US authorities.
"In June 2006, the United States Department of the Treasury, Office of Foreign Assets Control "anctioned LIMMT for its support of and role in the proliferation of weapons of mass destruction to Iran," says a statement from the office of Manhattan DA Robert Morgenthau (pictured). "As a result of the sanctions, LIMMT was banned from engaging in transactions with or through the U.S. financial system, and remains banned to this day."
So will Wei do time? Only if they can pry his ass out of China. According to a document available on the US State Department Web site, China is not one of the countries our nation holds a bilateral extradition treaty with. Something this guy is really grateful for. "We may not be able to shut down Mr. Li' s factories," says Manhattan District Attorney Robert M. Morgenthau, "but we can shine a spotlight on his conduct... " Check, and mate.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in New York, delivered to your inbox.