Hong Kong Electronics called a cover for North Korea 's missile defense network . U.S. Treasury says company 's U.S. assets frozen , transactions in U.S. prohibited . The Treasury statement alleged that Hong Kong Electronics has transferred millions of dollars of proliferation-related funds on behalf of Tanchon and KOMID since 2007 . It says company worked with bank , arms dealer tied to other sanctioned entities . Goal is to stop misuse of financial system to advance arms programs , Treasury said .
Hong Kong Electronics called a cover for North Korea 's missile defense network . U.S. Treasury says company 's U.S. assets frozen , transactions in U.S. prohibited . It says company worked with bank , arms dealer tied to other sanctioned entities . Goal is to stop misuse of financial system to advance arms programs , Treasury said .