Jersey Returns £829,500 in Stolen Funds to Mozambique: A Historic Asset Recovery Agreement
Cape Town - In a groundbreaking move to combat financial crime, authorities in Jersey have returned over £829,500 in stolen funds to Mozambique following an investigation into a corrupt trust account. This is the first time Jersey has signed a Memorandum of Understanding (MoU) agreement with Mozambique in this area.
Uncovering the Ill-Gotten Gains
The investigation revealed that the money originated from bribes paid to a high-ranking civil servant in Mozambique by companies seeking to secure lucrative construction contracts in the country.
The MoU and Funds Return
During a ceremony in Maputo, attended by Jersey’s Attorney General Mark Temple and the Vice-Attorney General of Mozambique, Alberto Paulo, the MoU was signed with the funds earmarked for use by Mozambican authorities in their ongoing fight against financial crime.
Mark Temple, Jersey’s Attorney General “I am delighted that Jersey has been part of Mozambique’s first asset return agreement. This will significantly strengthen law enforcement and anti-corruption agencies in Mozambique.”
Alberto Paulo, Vice-Attorney General of Mozambique “Today, we are honoured to receive funds that were illegally diverted from Mozambique and concealed in the Bailiwick of Jersey. This recovery demonstrates the ongoing commitment of our States to ensuring that crime does not pay and that public resources are used ethically and transparently to benefit society as a whole.”
Fighting Financial Crime: A Global Effort
As the world watches with growing concern the increasing prevalence of financial crime in many developing nations, this collaboration between Jersey and Mozambique marks an important milestone in the global fight against corruption and the recovery of stolen assets.