Asset Recovery The Critical Role of Civil Forfeiture

  • Slides: 9
Download presentation
Asset Recovery The Critical Role of Civil Forfeiture Stefan D. Cassella Asset Forfeiture Law,

Asset Recovery The Critical Role of Civil Forfeiture Stefan D. Cassella Asset Forfeiture Law, LLC [email protected] us

The Prevezon Case $230 Million 14 shell companies at 9 Russian banks 4 shell

The Prevezon Case $230 Million 14 shell companies at 9 Russian banks 4 shell companies Bank Krainy Sever (Russia) NZ company Danske Bank (Estonia) Bank de Economii (Moldova) BVI company Danske Bank (Estonia) 2 shell companies BVI company Ukia Bank (Lithuania) Bank de Economii (Moldova) Prevezon Holdings UBS Switzerland

North Korea Sanctions Case $700 MM in 8 years; $52 MM in last seven

North Korea Sanctions Case $700 MM in 8 years; $52 MM in last seven months

Forfeiture Theories n any property involved in a violation of the North Korea Sanctions

Forfeiture Theories n any property involved in a violation of the North Korea Sanctions and Policy Enhancement Act of 2016; 18 U. S. C. § 981(a)(1)(I) n proceeds of a violation of the International Emergency Economic Powers Act (IEEPA); 18 U. S. C. § 981(a)(1)(C) n proceeds of bank fraud; 18 U. S. C. §§ 1344 and 981(a)(1)(C) n property involved in money laundering; 18 U. S. C. §§ 1956(a)(2)(A) and 981(a)(1)(A)

Damming Warrant Captured $1. 9 MM in 14 days

Damming Warrant Captured $1. 9 MM in 14 days

United States v. All Wire Transactions Involving Dandong Zhicheng Metallic Material Co. , 2017

United States v. All Wire Transactions Involving Dandong Zhicheng Metallic Material Co. , 2017 WL 3233062 (D. D. C. May 22, 2017)

Other Civil Forfeiture Cases n United States v. One Gulfstream G-V Jet Aircraft, (aircraft

Other Civil Forfeiture Cases n United States v. One Gulfstream G-V Jet Aircraft, (aircraft purchased with proceeds of public corruption in West African country); n United States v. A 10 th Century Cambodian Sandstone Sculpture, (cultural property stolen during civil war in Cambodia); n United States v. $671, 160. 00 in U. S. Currency, (money seized from fugitive Canadian drug dealer); n United States v. All Assets Listed in Attachment A (Mega. Upload, Ltd. ), (funds from theft of U. S. intellectual property on internet website managed from New Zealand); n United States v. All Assets Held in Account Number 80020796 , ($2 billion stolen from Nigeria by Gen. Abacha);

Other Civil Forfeiture Cases n In re 650 Fifth Ave. and Related Properties, (building

Other Civil Forfeiture Cases n In re 650 Fifth Ave. and Related Properties, (building owned by Government of Iran, and financed in violation of IEEPA); n United States v. All Assets Held at Bank Julius Baer & Co. , ($250 million deposited into over 20 bank accounts by former Ukrainian Prime Minister Pavel Lazerenko); § United States v. Two General Electric Aircraft Engines, (two aircraft engines being shipped to the Islamic Revolutionary Guard); § United States v. $70, 990, 605, ($70 million in fraud proceeds paid to contractor to provide transportation for military supplies in Afghanistan);

Asset Recovery The Critical Role of Civil Forfeiture Stefan D. Cassella Asset Forfeiture Law,

Asset Recovery The Critical Role of Civil Forfeiture Stefan D. Cassella Asset Forfeiture Law, LLC [email protected] us