Luxury News from Luxury Insider

Kim Jong Il’s Two Yachts Impounded by Italian Police

Published: 7/23/2009 2:18:00 AM

Keywords: Yachts and Boats

 

By LAWRENCE TAN

Amid reports of a battle with pancreatic cancer, it seems that there’s yet more bad news for North Korea’s leader Kim Jong-Il.

The enigmatic 68-year-old dictator of the isolated nation has had two luxury yachts valued at 13 million euros impounded by Italian police in Viareggio. The yachts were seized before they could be shipped to China.

An international trade embargo prohibits luxury goods from being imported into North Korea.

Italian newspaper Libero-News reports that Italian police working with Austrian authorities in a secret operation codenamed Flybridge, tracked the records of the purchase to Kim after an Austrian businessman aroused their suspicion after having paid cash to build the yachts, and then transferred the titles to a Chinese company.

The yachts will most likely be auctioned off, and the money paid up has been frozen. The newspaper says the operation doesn’t end here, with police still investigating other channels through which the North Korean leader might have acquired luxury goods from Italy and the rest of Europe.

That’s what you get for belligerent nuclear missile testing and becoming the political persona non grata of the international community.

via IBI Magazine / Libero-News