By Ankit Panda
The U.S. is pursuing a Chinese businessman in connection with Iran’s ballistic weapons program.
On Tuesday, the United States Department of State announced a $5 million bounty for information leading to the arrest and/or conviction of Chinese businessman Li Fangwei. The U.S. is accusing Li of supplying missile parts to Iran and for helping Iran evade weapons and oil sanctions. According to Reuters, “the U.S. Treasury Department said it was sanctioning eight of Chinese businessman Li Fangwei’s Chinese companies for allegedly procuring missile parts for Iran.” Li, also known as Karl Lee, was previously sanctioned by the United States for his alleged role as a principal supplier for Iran’s ballistic missile program.
The State Department, Treasury Department, and Justice Department of the United States are all operating in tandem to coordinate the search for Li. The Justice Department has indicted Li on charges including “conspiracy to commit money laundering, bank fraud, and wire fraud.” In a statement on the indictment, the State Department notes, “According to the Indictment, he (Li) controls a large network of front companies and allegedly uses this network to move millions of dollars through U.S.-based financial institutions to conduct business in violation of the International Emergency Economic Powers Act (IEEPA) and the Weapons of Mass Destruction Proliferators Sanctions Regulations, which prohibit such financial transactions.”
Read the full story at The Diplomat