http://www.nkeconwatch.com/2002/03/05/north-korean-financial-institutions-loads-of-info/ News and analysis of the North Korean economy Wed, 07 Jan 2009 03:05:55 +0000 http://wordpress.org/?v=2.3.2 http://www.nkeconwatch.com/2002/03/05/north-korean-financial-institutions-loads-of-info/#comment-10155 OneFreeKorea » Colin McAskill Threatens to Sue Banco Delta Over Release of Funds to DPRK Tue, 27 Mar 2007 22:58:50 +0000 http://www.nkeconwatch.com/2002/03/05/north-korean-financial-institutions-loads-of-info/#comment-10155 [...] According to the journalist and author Bradley Martin, the North Korean regime itself is an indirect partner in DCB through the Korea Daesong Bank.  This article in the Far Eastern Economic Review, citing a senior North Korean defector, reports that Korea Daesong had at one point been controlled by Bureau 39 of the Korean Workers’ Party, whose functions include the earning of foreign exchange through criminal activity (see also this U.S. Embassy Seoul document).  Colin McAskill, who has agreed to buy Daedong Credit Bank and is representing the bank in its negotiations with the Macao authorities, warned the Monetary Authority of Macao in a letter on Wednesday that he would hold the regulator “totally responsible” and would “take whatever steps necessary” if the bank’s funds were transferred without its consent. [...] […] According to the journalist and author Bradley Martin, the North Korean regime itself is an indirect partner in DCB through the Korea Daesong Bank.  This article in the Far Eastern Economic Review, citing a senior North Korean defector, reports that Korea Daesong had at one point been controlled by Bureau 39 of the Korean Workers’ Party, whose functions include the earning of foreign exchange through criminal activity (see also this U.S. Embassy Seoul document).  Colin McAskill, who has agreed to buy Daedong Credit Bank and is representing the bank in its negotiations with the Macao authorities, warned the Monetary Authority of Macao in a letter on Wednesday that he would hold the regulator “totally responsible” and would “take whatever steps necessary” if the bank’s funds were transferred without its consent. […]

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