Topic: Asset forfeiture

Immunity deal for yacht company reveals US strategy for oligarch probes

Former federal prosecutors believe the DOJ’s decision to trade immunity for information about a yacht’s oligarch owner is a warning shot for the yacht building industry and other sectors that serve the super-rich.

24 June 2022

Ukrainian anti-corruption agency on war footing

Ukraine’s National Agency on Corruption Prevention has shifted its focus to confiscating the assets of pro-Kremlin businesses and oligarchs following the Russian invasion, an official has revealed.

15 June 2022

Switzerland will seek to impose usage terms on returned Ukrainian assets

Some $100 million in frozen funds allegedly stolen from Ukraine and subject to a forfeiture attempt in Switzerland will only be returned if Ukraine spends them on projects that “improve the living conditions of the population”, Swiss officials said.

10 June 2022

DOJ seizes $3.5 million property linked to former Gambian president

The US will recommend that proceeds from the sale of the mansion go to the people of Gambia.

27 May 2022

UK police seize Latvian company’s funds linked to Privatbank case

A London court has ordered the forfeiture of over £200,000 belonging to a purported recruitment company after prosecutors alleged the funds were the proceeds of a “sophisticated, high-value, cross-border money laundering operation”.

19 May 2022

US prosecutors seek LA mansion over Armenia bribery

The DOJ is attempting to seize a luxury LA home from the family of a former Armenian politician that allegedly bought the property with illicit funds.

04 May 2022

Fiji court rules in favour of US seizing superyacht

03 May 2022

FCA obtains £2m forfeiture from fintech company

21 April 2022

Spanish prosecutors seize yacht in first win for US sanctions task force

A multi-agency US task force hunting Russian sanctions evaders has recorded its first asset seizure. “It will not be the last,” said the US attorney general.

05 April 2022

Kuwait acquits ex-ministers accused of corruption

09 March 2022

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