March 02, 2007

Tragically Stupid, Updated

As I noted yesterday, our intelligence that North Korea was enriching uranium in violation of 1994's "Agreed Framework" may have been wrong. Today we find out that we may have been wrong on other aspects of North Korea. Knight Ridder/McClatchy is reporting:

Now there are new questions about the administration's assertions that a bank in Macau knowingly laundered proceedings from North Korean narcotics trafficking, cigarette smuggling and counterfeit American currency.

An audit of the Banco Delta Asia's finances by accounting firm Ernst & Young found no evidence that the bank had facilitated North Korean money-laundering, either by circulating counterfeit U.S. bank notes or by knowingly sheltering illicit earnings of the North Korean government.

In a filing submitted to the Treasury Department last October, Heller Ehrman LLP, the bank's New York law firm, reported that an audit by the government of Macau also had found no evidence of money-laundering.

Did we get anything right? Do we even know who is running the place today?

Posted by baltar at March 2, 2007 09:49 AM | TrackBack | Posted to International Affairs | Politics


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