U.S. Seeks to Seize Millions in North Korean Sanctions Case

(Bloomberg) -- The U.S. sought $7 million from two Singapore-based companies in relation to violations of sanctions against North Korea over its development of nuclear weapons.

In a complaint filed Tuesday, the U.S. attorney in Washington, D.C., accused Velmur Management Pte. Ltd. and Transatlantic Partners Pte. Ltd. of laundering dollars through the U.S. on behalf of sanctioned entities in North Korea. The illicit wire transfers were routed through U.S. accounts, according to a complaint filed in federal court in the District of Columbia.

Earlier Tuesday, the U.S. Treasury added more than a dozen individuals and companies to its roster of blacklisted North Korea-related entities, an escalation of the Justice Department’s focus on tightening sanctions against Pyongyang.

To contact the reporters on this story: Greg Farrell in New York at gregfarrell@bloomberg.net, Tom Schoenberg in Washington at tschoenberg@bloomberg.net.

To contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Jeffrey D Grocott