Taipei, The assets of a Taiwanese man accused of helping North Korea evade international trading bans have been frozen with immediate effect, the Ministry of Justice (MOJ) said Saturday.
In a statement, the justice ministry said it took the decision to freeze the assets of Taiwanese Tsang Yung-yuan (???) to show the government's resolve to uphold the sanctions issued by the United Nations Security Council against North Korea.
On Friday, the U.N. Security Council published a statement on its website, saying that Tsang had "coordinated North Korean coal exports with a North Korean broker operating in a third country."
Tsang was the only individual on the U.N. blacklist, which also included 21 shipping companies and 27 vessels.
Among the 21 companies were two owned or controlled by Tsang -- Pro-Gain Group Corp., which is based in Taiwan, and Kingly Won International Co., Ltd., which has bases in Taiwan and the Marshall Islands.
Citing the Terrorism Financing Prevention Act, the MOJ said individuals in Taiwan subject to international sanctions will not be permitted to withdraw or transfer funds or open new bank accounts, while all other personal assets will be frozen.
Since February, prosecutors have been investigating allegations that Tsang was violating the U.N. sanctions against North Korea.
The offense carries a prison sentence of up to five years and a maximum fine of NT$5 million (US$172,413), according to Deputy Justice Minister Chen Ming-tang (???).
Source: Focus Taiwan News Channel