Probe requested of U.S. effort to free N.Korea funds (Reuters)

[Eugene]

Source: Reuters

Probe requested of U.S. effort to free N.Korea funds

By Arshad Mohammed
2 hours, 51 minutes ago

WASHINGTON (Reuters) - Six Republican lawmakers asked a
government watchdog on Tuesday to investigate whether U.S.
efforts to help North Korea get back about $25 million would
violate money laundering and counterfeiting laws.

Until it gets the money, which is currently being held by
Banco Delta Asia in Macao, North Korea has refused to carry
out an agreement to shut down its reactor at Yongbyon as a
first step toward giving up nuclear weapons.

The U.S. Treasury designated Banco Delta Asia as a money-
laundering concern in September 2005 and suggested it was
a "willing pawn" in suspected North Korean counterfeiting,
drug smuggling and other illegal activities.

The Republicans, led by Florida Rep. Ileana Ros-Lehtinen,
asked the Government Accountability Office to look into the
matter after reports that a resolution may be at hand.

-snip-

Read more: http://news.yahoo.com/s/nm/20070612/wl_nm/korea_north_funds_dc_2

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Source: Associated Press

Lawmakers question deal with North Korea

By DESMOND BUTLER, Associated Press Writer
2 hours, 53 minutes ago

WASHINGTON - Republican lawmakers on Tuesday asked
investigators to examine whether Bush administration efforts to
transfer $25 million from a North Korean account would violate
money laundering and counterfeit laws.

Six members of Congress, including the ranking Republican on the
House Foreign Affairs Committee, Rep. Ileana Ros-Lehtinen, asked
that the Government Accountability Office investigate whether
moves by the State and Treasury departments to facilitate the
transfer broke the law.

-snip-

The
Treasury Department said Monday that officials were discussing
with Russian and Macau authorities a way to transfer the funds.

In a letter to the head of the GAO, David Walker, the members
of Congress called reports of the government efforts to get
the North Korean money transferred from the Macau bank
"disturbing."

Ros-Lehtinen also questioned whether the moves would
ultimately get North Korea to disarm.

-snip-

Read more: http://news.yahoo.com/s/ap/20070612/ap_on_go_co/us_north_korea_funds_22