Chinese company, exec indicted in Iran missile case

[blue97keet]

http://uk.reuters.com/article/asiaRegulatoryNes/idUKN0745146820090407

UPDATE 2-Chinese company, exec indicted in Iran missile case
Tue Apr 7, 2009 7:02pm BST

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* U.S. hits six Iranian companies hit with sanctions

* Chinese executive and his company indicted in New York

* Money channeled through U.S., European banks (Combines stories about indictment and sanctions)

By David Lawder and Edith Honan

WASHINGTON/NEW YORK, April 7 (Reuters) - The U.S. government on Tuesday slapped sanctions on a Chinese metals company and six Iranian companies suspected of collaborating on a scheme to transfer missile and nuclear technology from China to Iran.

A New York grand jury also indicted the Chinese metals company, LIMMT Economic and Trade Co Ltd, and its manager, Lee Fangwei, on 118 counts including suspicion of shipping 33,000 pounds (15,000 kg) of specialized aluminum alloy used for long-range missile production from China to Iran.

Lee was charged with the suspected misuse of Manhattan banks employed to transfer money between China and Iran by way of Europe and the United States.

The actions by the U.S. Treasury Department and a grand jury convened by the New York state prosecutor in Manhattan come as the United States has sought tougher U.N. sanctions against Iran to halt its nuclear program, which Western nations believe is designed for making weapons.

Tehran says the program is aimed at increasing its civilian power capacity. Continued...