On March 7, Zhongxing Telecommunications Equipment Corporation and its subsidiaries and affiliates, as well as ZTE Kangxun Telecommunications Ltd. and its subsidiaries and affiliates (collectively referred to as ZTE or ZTE Corporation) entered into a guilty plea with the U.S. Department of Justice and “agreed to pay a $430,488,798 penalty to the U.S. for conspiring
North Korea Sanctions
ZTE Update: Judge Revises Plea Agreement to Ensure More Central Role for Court in Monitoring Ongoing Compliance
By Chris Monahan, Jeffrey L. Snyder, Carlton Greene, Jana del-Cerro & Dj Wolff on
Posted in Enforcement, North Korea Sanctions
Continuing a trend toward greater judicial scrutiny of Department of Justice (DOJ) plea agreements first seen in the district court’s action in the Fokker case, Ed Kinkeade, a U.S. District Judge for the Northern District of Texas, revised the guilty plea submitted to him by ZTE and the DOJ to reject the corporate monitor…
U.S. and UN Take Strong Action Against North Korea
By Charles De Jager, Carlton Greene & Joel Mallord on
Posted in North Korea Sanctions
The months of November and December saw major steps by both the U.S. and the United Nations targeting the Democratic People’s Republic of Korea’s (DPRK) nuclear and ballistic missile programs. First, on November 9, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) published a final rule imposing correspondent banking restrictions on U.S. financial institutions…