Contempt Against Chinese Banks in N.K. Sanctions Case Is Upheld

An appeals court upheld a contempt citation against three Chinese banks for refusing to produce evidence in a criminal probe into alleged evasion of sanctions on North Korea.

• A decision last month by a lower-court judge in Washington to hold the banks in contempt was affirmed Tuesday in a sealed ruling by the U.S. Court of Appeals for the District of Columbia Circuit
• The banks appear to be China Merchants Bank Co., Bank of Communications Co. and Shanghai Pudong Development Bank Co., three of China’s top 10 banks by assets; all three have issued statements saying they weren’t under investigation ...