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If the US Department of Justice was looking for ways to permanently shut down the Panama city law firm of Mossack and Fonseca, and arrest the name partners, the recent Indictment, filed against Ms Xiaohong and Dandong Hongxiang Industrial Development Company, for violation sanctions against North Korea, would appear to be sufficient grounds to take such an action.
Ms. Ma, a Chinese national, whose company, in a town bordering North Korea, used shell companies, set up by the Mossack law firm, allowed it to ship dual-purpose materials to the DPRK, which can be used in the country's illegal nuclear weapons development program. Mossack staff set up shell companies in the BVI, Seychelles, and Hong Kong, to engage in prohibited US Dollar transactions, and conceal the fact that Dandong and a North Korean entity were joint-venture partners in importing prohibited goods to North Korea.
Jurgen Rolf Mossack
Mossack Fonseca records, unveiled in the Panama Papers disclosures, showed that MF actually verified that Mr. Ma was a Politically Exposed Person (PEP), but that the firm ignored its findings, and failed to designate her as such.
Ramon Fonseca Mora
Under the circumstances, we are now wondering why Jurgen Mossack, and Ramón Fonseca, have not been indicted in the Dandong case. They facilitated sanctions evasion, violations of OFAC regulations, regarding sanctioned banks, and intentionally concealed the participation the biggest rogue nation in the world today.
Contributed by Kenneth Rijock
Chronicles of Monte Friesner
