Financial Crime World

Asset Recovery Procedures in Antigua and Barbuda: A Successful Case of Recovering $12 Million in Corruption Proceeds

A Landmark Case of Effective Asset Recovery

The Government of Antigua and Barbuda has successfully recovered $12 million from corrupt government officials and others, showcasing the country’s commitment to asset recovery procedures. The case involved Mr. Rappaport, whose Miami-based company, IHI Debt Settlement Associates, LLC, had its Antigua account frozen by the High Court of Antigua in 2006.

The Asset Recovery Process

According to a statement by the Attorney General of Antigua and Barbuda, the government obtained an injunction to freeze the accounts after initiating legal action against Mr. Rappaport and his companies. The settlement agreement was reached in July 2009, with Mr. Rappaport agreeing to pay the government $12 million.

The Allegations

The case involved allegations of corruption under Article 18 of the United Nations Convention Against Corruption (UNCAC), specifically trading in influence. The public official allegedly involved was not named in the press release.

Key Players and Expertise

  • Attorney General and Minister of Legal Affairs: Served as both the investigative agency and prosecuting authority/civil attorney.
  • Mr. Robert Lindquist: A financial forensic investigator who had previously worked on cases involving corruption in Trinidad and Tobago, providing crucial expertise to the case.

International Collaboration

The Miami-Dade County Circuit Court in Florida, United States, played a crucial role in the jurisdiction of asset recovery.

Factors Contributing to Success

  • Expertise of Mr. Robert Lindquist
  • International collaboration with authorities

Conclusion

This case highlights Antigua and Barbuda’s commitment to recovering assets linked to corruption and its ability to collaborate with international authorities to achieve this goal. The $12 million recovered in this case is a significant achievement for the country, demonstrating its determination to combat corruption and protect its public funds.