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Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation . It typically applies to the alleged proceeds or instruments of crime.
The ruling is the second recent court decision that has curbed Detroit's aggressive vehicle forfeiture program. Michigan Supreme Court Rules Against Detroit's Asset Forfeiture Racket Skip to main ...
In civil forfeiture, assets are seized by police based on a suspicion of wrongdoing, and without having to charge a person with specific wrongdoing, with the case being between police and the thing itself, sometimes referred to by the Latin term in rem, meaning "against the property"; the property itself is the defendant and no criminal charge ...
In 2011, the Wayne County Treasurer's Office netted a record $32 Million from the Bid4Assets online auction of 14,000 tax-foreclosed properties, double the amount collected the previous year. [ 12 ] In September 2011, the Golden Eye Diamond , a flawless 43.51-carat Fancy Intense Yellow diamond sold for $2,843,623 to Jerre Hentosh.
The Treasury Executive Office for Asset Forfeiture (TEOAF) is an agency of the United States federal government in the United States Department of the Treasury. [1] TEOAF is responsible for administering the Treasury Forfeiture Fund (TFF). [clarification needed] The TFF was established in 1992 as the successor to what was then the Customs ...
Equitable sharing refers to a United States program in which the proceeds of liquidated seized assets from asset forfeiture are shared between state and federal law enforcement authorities. The Comprehensive Crime Control Act of 1984 set up the arrangement in which state and local police can share the seizures with federal agents. [1]
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The state of Michigan is largely divided in the same way as many other U.S. states, but is distinct in its usage of charter townships. Michigan ranks 13th among the fifty states in terms of the number of local governmental entities. The state is divided into 83 counties, and further divided into 1,240 townships, 280 cities, and 253 villages.