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Inconsistent international forfeiture laws continue to hamper global asset forfeitures, according to Stefan D. Cassella, chief of the Asset Forfeiture and Money Laundering section of the U.S. Attorney's Office in Maryland.
A group of seasoned attorneys and investigators is launching a non-profit organization to help developing countries recover some of the billions of dollars in assets plundered by corrupt political leaders.
Defendants in an international bribery case have asked the U.S. Supreme Court to review a case that could alter the way that the U.S. Justice Department enforces an international anti-corruption law, according to legal analysts.
Under the initiative, the organizations will provide training and aid for developing countries seeking to recover funds stolen by corrupt leaders and transferred to financial institutions in foreign jurisdictions.
The U.S. Justice Department is seeking the forfeiture of $110 million in proceeds from an allegedly corrupt Italian bankruptcy case.
More than $257 million was added to Treasury's Asset Forfeiture Fund for fiscal year 2006 from the government's confiscation of assets from criminal activities like money laundering and drug dealing.
The family of former Nicaraguan President Arnoldo Alemán lost a legal battle to retain $740,000 in bank certificates after a Miami judge determined that Alemán and an associate purchased them with money they looted from the country’s coffers.
The family of former Nicaraguan President Arnoldo Alemán lost a legal battle to retain $740,000 in bank certificates after a Miami judge determined that Alemán and an associate purchased them with money they looted from the country’s coffers.
