A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country's president.
Entries in Forfeiture (51)
It is repellent to read how a has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.
Amsterdam-based VimpelCom Limited, the world’s sixth-largest telecommunications company, and its wholly owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the DOJ, SEC, and Dutch authorities Thursday for paying more than $114 million in bribes to a government official in Uzbekistan between 2006 and 2012.
The Treasury Department's Financial Crimes Enforcement Network (FinCEN) fined Silicon Valley star Ripple Labs $700,000 Tuesday for selling its virtual currency without registering with FinCEN and for not having an anti-money laundering program.
A federal court in Florida last week granted a request by prosecutors to seize three properties and various restaurant equipment from Mamadie Touré.
With most enforcement pressure bearing down on corporate supply side bribe payers, it is no surprise that the business community feels beleaguered. The fundamental unfairness is of course the impunity with which bribe takers operate, a frequent topic on the FCPA Blog.
Foreign countries helping China catch corrupt officials who have fled overseas with their illicit gains can share up to 80% of their forfeited assets, said a criminal law expert.
The DOJ said last week it will settle a corruption-related civil forfeiture action involving more than $70 million in U.S. assets amassed by the son of Equatorial Guinea's dictator.
The U.S. government is selling bitcoins worth $18 million through an auction later this month.
U.S. Attorney Preet Bharara said Tuesday the United States has filed a civil forfeiture action against the assets of nine companies that own real estate in Manhattan. The complaint targets four luxury residential units and two high-end commercial spaces.
Ukraine has revamped its anti-corruption laws. The most significant aspect of the new legislation is the introduction (scheduled for September 2014) of corporate criminal liability for companies whose employees offer or pay bribes, directly or indirectly, to public officials or officers of private companies.