Tan Wee Beng, an award-winning executive, is on the US most-wanted list for allegedly moving money through the banking system for North KoreaHis whereabouts are unknown, according to US authorities
A Singapore businessman once lauded as a leading young entrepreneur has illegally laundered millions of dollars in funds for North Korea, US prosecutors said in charges unveiled on Thursday.
A grand jury indictment charged Tan Wee Beng, 41, with working with several other unnamed actors to move money through the international banking system for North Korean banks between 2011 and 2018, violating international sanctions on North Korea.
Separately, the US Treasury slapped sanctions on Tan and two companies he ran – Wee Tiong (S) Pte and WT Marine Pte, both of which did business with North Korea
Tan “conducted illicit transactions totalling millions of dollars in support of North Korean entities in blatant violation of a host of economic sanctions the United States has established against North Korea and North Korean entities,” said FBI assistant director William Sweeney in a statement.
The indictment and sanctions announcements said one of Tan’s companies handled millions of dollars worth of commodity contracts for Pyongyang, and said Tan followed instructions from sanctioned North Korean banks on how to move funds for them through the global banking system.
