#PanamaLeaks: British banker linked to North Korea’s nuclear research
A British banker has been linked to North Korea’s efforts to create nuclear weapons, the Panama Leaks have revealed, suggesting the financier set up an offshore company used by Pyongyang to fund nuclear research.
An investigation by the Guardian alleges that Nigel Cowie, who was head of North Korea’s first foreign bank, registered a company in the British Virgin Islands.
The revelations come amid a week of embarrassment for the world’s rich and powerful. The Panama Leaks, which have forced the resignation of Icelandic Prime Minister Sigmundur Davíð Gunnlaugsson, have also cast light on David Cameron’s family wealth.
The leaks contain millions of documents from law firm Mossack Fonseca, which allows the wealthy to hide their earnings tax-free in offshore companies.
Cowie denies knowledge of transactions with the sanctioned North Korean nuclear industry during his time with the bank, his lawyer said.