As Liberia, Africa’s oldest republic continue to suffer setbacks amongst the comity of nations without meaningful progress after two hundred years, the culture of impunity continues to spread like widefire throughout the country with corruption taking the lead amongst senior government officials.
Recently the United States Treasury Department sanction-designated three senior government officials for their alleged involvement in massive corruption, an act compelled them to relinquish their respective (Resigned) their high profile positions; Nathaniel McGill (Former Minister of State for Presidential Affairs, Bill Twehway former Managing Director of the National Port Authority, and former Solicitor General, Syrenius Cephas).
As some senior Liberian government officials continue to shamelessly continue to loot the country resources without remorse or fear of God, the United States’ Congress Kleptocracy Asset Recovery Rewards Program to further the U.S. government’s commitment to combating foreign government corruption and serve United States efforts to identify and recover stolen assets, forfeit proceeds of corruption, and, where appropriate and feasible, return those stolen assets or proceeds to the country harmed by the acts of corruption, these officials who think the culture of impunity should be their hallmark with be caught in this web.
This program may pay rewards to qualified individuals who provide information leading to the restraint or seizure, forfeiture, or repatriation of “stolen assets,” as defined by the law, linked to foreign government corruption.
The Department of the Treasury’s Office of Terrorism and Financial Intelligence manages the Program in close coordination with the Departments of Justice and State and U.S. federal law enforcement agencies. The Program serves as a force-multiplier for existing rewards programs targeted at a variety of illicit finance threats.
Rewards Targets
The Secretary of the Treasury has statutory authority to offer rewards up to a maximum of $5,000,000 for information leading to the (1) the restraint or seizure (2) forfeiture or (3) repatriation of stolen assets in an account at a U.S. financial institution (including a U.S. branch of a foreign financial institution), that come within the United States, or that come within the possession or control of any U.S. person.
In addition to accepting all relevant information, the Program will advertise instances in which law enforcement seeks information leading to the restraint, seizure, forfeiture, or repatriation of stolen assets linked to foreign government corruption.
The U.S. Department of Justice, the Federal Bureau of Investigation and other U.S. law enforcement agencies seek information leading to the seizure, restraint, forfeiture, or repatriation of assets linked to corruption involving the government of the Russian Federation that are: (1) in an account at a U.S. financial institution, including a U.S. branch of a foreign financial institution; (2) that come within the United States; or (3) that come within the possession or control of any U.S. person. Persons who provide such information may be eligible for a reward under this Program or others.
The U.S. Department of Justice, the Federal Bureau of Investigation, and the Internal Revenue Service Criminal Investigation seek information leading to the seizure, restraint, forfeiture, or repatriation of assets linked to corruption involving the Sovereign Wealth Fund of Malaysia, known as 1MDB, or related embezzlement that are: (1) in an account at a U.S. financial institution, including a U.S. branch of a foreign financial institution; (2) that come within the United States; or (3) that come within the possession or control of any U.S. person. Persons who provide such information may be eligible for a reward under this Program or others.
What are “stolen assets”?
By statute, the term “stolen assets” means financial assets within the jurisdiction of the United States constituting, derived from, or traceable to, any proceeds obtained directly or indirectly from foreign government corruption. The term “financial assets” means funds, investments, or ownership interests, that, after January 1, 2021, come within the United States or that come within the possession or control of any U.S. person.
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