OFAC Adds Kaikai Technology to SDN List Over Synthetic Drug Trafficking
U.S. individuals and companies are now barred from dealing with Chinese-based Kaikai Technology after the Office of Foreign Assets Control on Oct. 15 put the company and owner Bo Peng, a Chinese national, on the Specially Designated Nationals list under…
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authorities provided by the Kingpin Act, the agency said (here). OFAC labeled Kaikai a “purported pharmaceutical and chemical products company” that has exported large amounts of synthetic drugs, including stimulants and marijuana. A grand jury in a Florida district court indicted Peng on charges of “importing and conspiring to import ethylone and the Schedule I controlled substance methylone,” said OFAC. The OFAC action freezes all Kaikai and Peng assets in the U.S.