Chinese Plot Uncovered to Sell Nuclear Materials to Iran

April 8, 2009

(ChattahBox)—The New York Daily News is reporting this morning the details of an alleged plot by Chinese national, Li Fang Wei and his company LIMMT Economic and Trade Co. LLC, to violate the United Nations embargo, prohibiting the sale to Iran of any materials capable of producing a nuclear weapon. Manhattan DA Robert Morgenthau, is poised to issue an 118-count indictment accusing LI Fang and his company of setting up numerous shell companies and aliases, to dupe US banks to unwittingly join in the plan to send nuclear weapons materials to Iran.

The indictment alleges thirty-seven year old LI Fang illegally engaged in 58 different financial transactions, including shipments of banned materials from China to Iran between 2006 and 2008. The shipments were reported to go to a subsidiary of the Iranian Defense Ministry.

Li Fang was found to have set up set up four bogus import-export companies that conducted business with six Iranian shell firms, using US banks. The shipments, included 53,900 pounds of steel rods used in uranium enrichment and to make the casings for nuclear bombs.

The banks involved in LI Fang’s financial transactions with Iran, were Citibank, JPMorgan Chase, Wachovia Bank/Wells Fargo, Bank of America and Standard Charter Bank. The banks cooperated with authorities.

The Manhattan District Attorney’s office plans to demand that China extradite Li Fang to the United States.


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