The Bank of China and two banks based in Macau are under US scrutiny for possible connections to North Korea's illicit fundraising network, which Washington believes finances Pyongyang's nuclear program, the Wall Street Journal reported yesterday. A Hong Kong spokeswoman for Bank of China, Clarina Man said: "We have no know-ledge of any such investigation."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!