Europeans Indicted for Allegedly Conspiring with Cryptocurrency Specialist to Help North Korea Evade US Sanctions
Two European individuals, Alejandro Cao De Benos from Spain and Christopher Emms from the UK, have been indicted for their alleged involvement in a conspiracy to assist North Korea in evading US sanctions with the help of a cryptocurrency specialist.
The Alleged Conspiracy
It is reported that Cao De Benos and Emms collaborated in planning and organizing the Pyongyang Blockchain and Cryptocurrency Conference, also known as the DPRK Cryptocurrency Conference, where cryptocurrency expert Virgil Griffith provided detailed instructions on how to launder money using crypto and how blockchain smart contracts could be used in nuclear weapons negotiations with the US.
Cao De Benos, the founder of the pro-North Korean organization, the Korean Friendship Association, and Emms, described as a cryptocurrency businessman by the Department of Justice, allegedly instructed North Korean officials on how to utilize blockchain and cryptocurrency technology to evade sanctions and launder money during their presentations at the conference.
Continuation of the Conspiracy
Following the conference, Cao De Benos and Emms purportedly continued with the conspiracy by attempting to develop cryptocurrency infrastructure and equipment within North Korea. They also allegedly facilitated introductions for conference attendees with cryptocurrency service providers and planned a second conference in 2020.
Legal Ramifications
US attorney Damian Williams stated, “As alleged, Alejandro Cao de Benos and Christopher Emms conspired with Virgil Griffith to teach and advise members of the North Korean government on cryptocurrency and blockchain technology with the intention of evading US sanctions imposed on North Korea.”
Emms reportedly told North Korean officials that cryptocurrency technology allowed for the transfer of money across countries despite sanctions. The charges against Cao De Benos and Emms include one count of conspiring to violate and evade US sanctions, which carries a maximum sentence of 20 years in prison.
Conclusion
While Cao De Benos and Emms remain at large, extradition treaties between the US, UK, and Spain could lead to their apprehension. The enforcement of sanctions against North Korea is crucial in safeguarding the security interests of Americans, and authorities are committed to aggressively enforcing them with the help of international law enforcement partners.