Singapore trader denies laundering hundreds and hundreds for North Korea

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FBI

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Mr Tan Wee Beng is the director of two companies in Singapore

A Singaporean trader wished by the FBI for allegedly helping North Korean entities evade US sanctions has flatly denied “all charges” in opposition to him.Tan Wee Beng told the BBC that he had easiest discovered of prison charges in opposition to him via facts reports.”No one has contacted me. The FBI has now not known as me, the Singapore police have now not known as me,” he acknowledged.US Federal Prosecutor Geoffrey Barman on Thursday known as Mr Tan “a fugitive from American justice”.Within the identical justice department commentary, FBI Assistant Director William Sweeney acknowledged the Singaporean “conducted illicit transactions totalling hundreds and hundreds of greenbacks in pork up of North Korean entities in blatant violation of a bunch of industrial sanctions the United States has established in opposition to North Korea and North Korean entities”.The US Treasury has now placed sanctions on Mr Tan and two companies he’s linked to – Wee Tiong (S) Pte Ltd and WT Marine Pte Ltd. He’s a director of Wee Tiong (S) and the managing director of WT Marine.Mr Tan, a excessive-profile businessman, has over loads of years “fulfilled hundreds and hundreds of greenbacks in commodities contracts for North Korea”, the treasury department acknowledged. An US federal arrest warrant was issued for Mr Tan on 29 August however the Department of Justice presented its indictment in opposition to him on Thursday.He has been charged with conspiring to violate US sanctions, as well to financial institution fraud and money laundering.”I discovered out easiest this day via the derive. It came as a shock to me,” the forty one-year-outmoded told the BBC in a cellular phone name on Friday morning in Singapore. He acknowledged he denied the total accusations.”We’re a world trading firm, and now not a front [for laundering],” he acknowledged, along side that he had suggested lawyers to shield him.Mr Tan also disputed claims by the FBI that he was “at substantial”. A query for comment has been despatched to Singapore police.The US and Singapore have an extradition treaty but it easiest covers negate offences and does now not consist of cash laundering.Mr Tan was as soon as viewed as a number one younger Singaporean entrepreneur having been named an entrepreneur of the year in 2011 by leading accounting company EY.Below his stewardship, annual earnings at Wee Tiong elevated by 131 p.c in a decade to extra than $460 million Singapore dollars ($330m), the Straits Times reported in 2015.

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