U.S. freezes yakuza assets

8 years ago by in Featured, World

The United States have frozen financial assets of Japanese organized crime group Yamaguchi-gumi, following an order from last year of president Barrack Obama.

Obama issued an executive order in 2011 to “target and disrupt significant transnational criminal organizations”.

Assets of key members from the Yamaguchi-gumi yakuza group, including those of the group’s leader Kenichi Shinoda, have been frozen, according to the Department of Treasury. The measures were applied to members of the Brothers’ Circle criminal organization as well.

“They use our financial system, they use our commercial system to both penetrate the markets, to disrupt the markets and to make use of their illicit proceeds,” said David S. Cohen, treasury under-secretary for terrorism and financial intelligence.

The Department of Treasury gave the names of nine individuals who had their financial assets frozen – two from Yamaguchi-gumi and seven from Brothers’ Circle.

Brothers’ Circle is a criminal organization that has its roots in Eastern Europe and is active on four continents.