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DOJ Opens Forfeiture Suit on Funds Meant for North Korea in Crypto Laundering Scheme
June 12, 2025 by Jacob Kopnick|Penalties and Courts

DOJ announced last week that it opened a civil forfeiture action in the U.S. District Court for the District of Columbia against more than $7.74 million allegedly laundered on behalf of the North Korean government. The funds were initially "restrained" as part of an indictment against North Korean banker Sim Hyon Sop, who was allegedly conspiring with North Korean information technology workers who illegally "amassed millions in cryptocurrency" as a means of evading sanctions on North Korea, DOJ said.

Chinese National Pleads Guilty to Illegally Exporting Firearms, Sensitive Tech to North Korea
June 11, 2025 by Jacob Kopnick|Penalties and Courts

A Chinese national pleaded guilty on June 9 to illegally exporting firearms, ammunition and "other military items" to North Korea by hiding them inside shipping containers leaving a California port, DOJ announced. Shenghua Wen admitted to one count of conspiracy to violate the International Emergency Economic Powers Act and one count of acting as an illegal agent of a foreign government.

Russian Citizen Violated Sanctions, Export Controls Through Illegal Operation of Crypto Company
June 11, 2025 |Penalties and Courts

A Russian citizen was charged with using his cryptocurrency company Evita to violate U.S. sanctions by funneling over $500 million in overseas payments through U.S. banks and cryptocurrency exchanges, according to a 22-count indictment unsealed by DOJ on June 9. Iurii Gugnin, a resident of New York and a Russian citizen, was charged with wire and bank fraud, conspiracy to defraud the U.S. and violating the International Emergency Economic Powers Act, among other charges.

Airline Executive Sentenced to Prison for Scheme to Defraud Cargo Airline
May 19, 2025 by Jacob Kopnick|Penalties and Courts

Former airline executive Skye Xu was sentenced to two years in prison for his role in a scheme to defraud Polar Air Cargo Worldwide of more than $32 million, the U.S. Attorney's Office for the Southern District of New York announced on May 15. Xu pleaded guilty to conspiracy to commit wire fraud and honest services wire fraud, wire fraud and conspiracy to commit money laundering.