OFAC sanctions Turkish company over illicit trade with N Korea

Today, OFAC has sanctioned a Turkey-based company, SIA Falcon International Group, pursuant to Executive Order 13551 (asset freeze), for importing, exporting, or reexporting arms or related material and luxury goods to or from North Korea. Two individuals, Huseyin Sahin and Erhan Culha, have also been designated for acting for or on behalf of SIA Falcon. Huseyin Sahin is the CEO of SIA Falcon, holds 100% of the voting capital, and is a member of its board of directors. Erhan Culha is the company’s general manager.

Ri Song Un, the economic and commercial councillor at the North Korean embassy in Mongolia, has also been designated by OFAC, pursuant to Executive Order 13687 (asset freeze and travel ban), for being an official of the North Korean government. Earlier in 2018, officials from SIA Falcon are said to have hosted Ri Song Un in Turkey to negotiate trade deals involving weapons and luxury goods. See OFAC Notice and US Treasury press release.

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About Michael O'Kane

Michael O'Kane

Michael was called to the Bar in 1992 and prior to joining Peters & Peters was a senior specialist prosecutor at the Crown Prosecution Service Headquarters (CPS). He was a key member of a small specialist unit responsible for the prosecution of serious and high-profile fraud, terrorist,...

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