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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.
Although there are accessible statistics of seizures at the federal level, it often happens that the totals of forfeitures from both criminals and innocent owners are combined; for example, one report was that in 2010, government seized $2.5 billion in assets from criminals and innocent owners by forfeiture methods, [15] and the totals of ...
The Treasury Department gave Ukraine a $20 billion loan funded by seized Russian assets Tuesday as part of a broader Group of Seven (G7) effort to boost the country’s defense. The money will be ...
The US has put a new twist on the law, however, by arguing that instead of returning the seized assets to Moscow if it comes back into compliance, the West can keep the money as a down payment of ...
Home equity theft happens when governments auction off seized houses and keep the profits—even once the tax bill is paid. Local Governments Are Seizing and Selling Homes Over Small Tax Debts ...
After the fall of Kabul in August 2021, the Biden administration froze the funds in New York, because it was unclear who had the legal authority to access the account. [3]On 11 February 2022, President Joe Biden announced that he intended to move $3.5 billion from the account to a trust fund to support humanitarian assistance in Afghanistan, and reserve $3.5 billion for potential legal claims ...
The court would then order for compensation to be transferred in the form of U.S. assets or property in Russia from a list that would be drawn up by Russia's government commission on foreign asset ...
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]