Latest: Corruption and Money Laundering.
MILLIONS FORFEITED.
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| Director of the Office of National Drug and Money Laundering Control Policy (ONDCP) Lieutenant Colonel Edward Croft |
The High Court of Justice has declared US $66.7 million of ill-gotten gains amassed by the now convicted Pavel Ivanovich Lazarenko to be forfeited to the government of Antigua & Barbuda.
According to the Office of National Drug and Money Laundering Control Policy (ONDCP), the funds which were held in the long liquidated Eurofed Bank (Antigua) are now to be transferred to the Government’s Forfeiture Fund.
Director of ONDCP, Lieutenant Colonel Edward Croft told OBSERVER media, “We’ve been in the court for quite some time and they have affirmed the forfeiture. It’s up to the government to determine how they want to treat the monies that were received.”
A source close to the matter told OBSERVER media that the Lazarenko’s assets in Antigua were first frozen in cooperation with US authorities around 2001 or 2002. The source said that later the authorities froze the funds under local laws around 2004....
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