Panama Papers include entities with North Korea ties

Individuals and entities that have done business with North Korea, Iran and Syria are included in the Panama Papers, the leaked files of 11 million documents from law firm Mossack Fonseca.

The entities involved in dealings with embargoed countries were not all listed by name, but the report from the International Consortium of Investigative Journalists indicated at least 33 people and companies the United States blacklisted were engaged in commerce with North Korea, Iran, as well as Mexican drug lords and organizations like Hezbollah.

Those companies had been using the Panamanian law firm to hide their wealth, the BBC reported.

Secret offshore companies were also established, the documents reveal, to hide the enormous reserves of cash suspected to be linked to associates close to former Egyptian President Hosni Mubarak, Muammar Gaddafi of Libya, and current Syrian President Bashar al-Assad.

Similar corporate structures were created to conceal the wealth of organizations that have previously been accused of dealing in illegal business with Pyongyang.

North Korean state enterprises like Korea Mining Development Trading Corp. has been active despite sanctions, and could have engaged in exporting equipment related to ballistic missiles and conventional weapons.

KOMID resumed activities even after the passage of U.N. sanctions Resolution 2270.

North Korea has been the target of increased sanctions at the United Nations Security Council and in mid-March U.S. President Barack Obama levied more sanctions against North Korea in response to Pyongyang's nuclear and ballistic missile tests.

The sanctions are focused on restricting the activities of North Koreans in the mining, energy and other industries.
  [upi.com]
  4/4/16