Manx farming business named in US Treasury report

Mon, 26 Sep 2016

A Manx farm business which works to preserve rare breeds of animals has been named as part of a transnational criminal organisation by the US Government.

Manx Rare Breeds Limited is part of the PacNet Group which has been accused of laundering millions of dollars in illicit funds worldwide.

Two people with Manx addresses are listed in the findings by the US Department of the Treasury, which bans them from engaging in business in America.

PacNet - which also has operations in Canada, the UK and Ireland - is the seventh organisation to be targeted by the US in this way, with the Japanese crime syndicate the Yakuza and Mexican drug gang Los Zetas among those previously sanctioned.