International Trade Law News /title <!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN" ""> <html xmlns="" xml:lang="en" lang="en"> <meta name="verify-v1" content="6kFGcaEvnPNJ6heBYemQKQasNtyHRZrl1qGh38P0b6M=" /> <head> <title>International Trade Law News

« Home | WSJ: The Vietnam Tariff? Plastic Bags Present a Te... » | OFAC's Receives Overwhelming Response to Internat... » | Eleven Defendants Charged In Scheme to Export Mili... » | Japanese Technology and Instruments Believed to be... » | Two Defendants Plead Guilty in Unrelated Cases Inv... » | UAE Forms Import-Export Control Committee » | U.S. Government Condemns North Korea Rocket Launch... » | OFAC to Hold First-Ever International Trade Sympos... » | DDTC to Launch DTrade2 License Submission System o... » | "Black Money" Documentary to Air April 7th on PBS » 

April 07, 2009 

Manhattan District Attorney Alleges Chinese Individual and Company Misused NY Banks to Provide Material Support for Iran

Manhattan District Attorney Robert M. Morgenthau today announced that an 118-count indictment (pdf) was brought by a grand jury in New York County against Li Fang Wei, a Chinese citizen and his company for charges relating to the misuse of New York City banks and the proliferation of illicit missile and nuclear technology to the Government of Iran. The Chinese company, known as LIMMT, is an alleged supplier of prohibited weapons material to the Iranian military and was designated by the Treasury Department Office of Foreign Assets Control (OFAC) in 2006 for providing material support to Iran's missile program.

The indictment alleges that the defendants engaged in fraudulent business practices to gain access to the U.S. financial system. The defendants were each indicted on 117 counts of Falsifying Business Records in the First Degree, which is punishable by up to 1⅓ to 4 years in prison, and one count of Conspiracy in the Fifth Degree, which is punishable by up to 1 year in prison.

In a related action, OFAC today designated Li Fang Wei (spelled Li Fangwei by OFAC) and the names of eight LIMMT front companies as aliases on the list of Specially Designated Nationals under Executive Order 13382 for their connection to Iran's missile proliferation network.

The front companies include Ansi Metallurgy Industry Co. Ltd.; Blue Sky Industry Corporation; Dalian Carbon Co., Ltd.; Dalian Sunny Industry & Trade Co., Ltd.; Liaoning Industry and Trade Co., Ltd; SC (Dalian) Industry & Trade Co., Ltd.; Sino Metallurgy & Minmetals Industry Co., Ltd; and Wealthy Ocean Enterprises Ltd.

Labels: , ,



Subscribe to our confidential mailing list

Mobile Version

Search Trade Law News

International Trade and Compliance Jobs

Jobs from Indeed




  • This Site is presented for general informational purposes only and does not constitute legal advice. No attorney-client relationship is formed when you use this Site. Do not consider the Site to be a substitute for obtaining legal advice from a qualified attorney. The information on this Site may be changed without notice and is not guaranteed to be complete, correct or up-to-date. While we try to revise this Site on a regular basis, it may not reflect the most current legal developments. The opinions expressed on this Site are the opinions of the individual author.
  • The content on this Site may be reproduced and/or distributed in whole or in part, provided that its source is indicated as "International Trade Law News,".
  • ©2003-2015. All rights reserved.

Translate This Site

Powered by Blogger