ID: ARW-497
Corruption and bribery in connection with steel trading (Abacha case) (Liechtenstein chapter)
$186.38M
Assets Returned
Country of Asset Location
Liechtenstein
Other Jurisdictions Involved
Germany
Luxembourg
Nigeria
Switzerland
Disposition of Criminal Case(s)
At time of reporting (2021), there was an investigation/prosecution related to this case in the country of origin, but the status was unknown.
There was a concluded investigation prosecution related to this case in the country of asset location (Liechtenstein).
Action Initiating Asset Recovery
By domestic investigation by law enforcement authorities (independent from foreign request)
Stage of Asset Recovery
Assets returned
Legal Basis for Asset Recovery in the country of asset location
Non-conviction based confiscation (NCB)
Legal Basis for International Cooperation
UNCAC
Bilateral Mutual Legal Assistance Treaty
Reciprocity
Manner of Asset Transfer
Direct wire transfer to a separate, designated government account for the asset return
Other
Notes
The manner of asset transfer were direct wire transfer to a separate, designated government account for the asset return and transfer to an account of the Bank for International Settlements.
Assets returned
#1
Assets returned
174,633,249.00 EUR
Assets Returned (USD equivalent)
$186,379,081.32
Date of return
December 2013 - June 2014
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
Yes – agreement under UNCAC Art.57(5)
Yes – another agreement
Monitoring and Disbursement Arrangements
Monitoring of the use of the repatriated funds by the World Bank.
Transfer in favor of the Federal Republic of Nigeria to an account of the Bank for International Settlements
Assets Confiscated
#1
Assets confiscated
179,141,794.00 EUR
Assets confiscated (USD equivalent)
$191,190,871.06
Date of confiscation
July 2008 - August 2011
Jurisdiction
Liechtenstein
Asset Type at Time of Confiscation
Cash/bank deposit
Assets Frozen/Seized
#1
Date of freeze/seizure
July 2000
Jurisdiction
Liechtenstein
USD Conversion date
September 2023
Date and Country of Case Submission
January 1, 2021
Liechtenstein
Data Source
Official information provided by country authorities