Asset Recovery

After surviving an early attempt to blunt the legislation, the soon-to-be-released European Order for the Preservation of Assets and its sister law, the European Order for the Disclosure of Assets, could be effective in the cross-border fight to take back assets, if they are enacted.

Switzerland has blocked Syrian assets worth 27 million Swiss francs ($32 million), Swiss news agency SDA reported on Sunday, citing a Swiss newspaper report that the Swiss Secretariat for Economics (SECO) confirmed. The news agency said SECO declined to comment on whether the assets of President Bashar al-Assad had been frozen. Reuters, Sunday, July 3, 2011

The International Association for Asset Recovery’s inaugural foray into the United Kingdom – a crucial battleground in the struggle to track and recover fraud assets – was well received by the 80 attendees of the 2011 Cross-Border Asset Tracing and Recovery Conference.

When it was founded in 2008, the International Association for Asset Recovery^* immediately flagged London as a critical theater for its efforts, and the first round of those efforts culminated last week in IAAR’S 2011 Cross-Border Asset Tracing and Recovery Conference.
 

The trustee seeking money for victims of Bernard Madoff's fraud won court permission on Tuesday to file a $975.5 million lawsuit against two feeder funds he said contributed to the Ponzi scheme^*. The judge authorized Irving Picard to file the lawsuit against the Kingate Global Fund, the Kingate Euro Fund and more than one dozen other defendants.

Gwent Police have seized enoug cash and assets from criminals in the past five years to fund five new jobs. Each year police forces receive a proportion of the money they confiscate from career criminals, to fight crimes that blight communities. This year Gwent seized £1.6m, £400,000 of which will fund one new post and tackle drug dealers and paedophiles. BBC, Friday, May 13, 2011