Country of Origin
Italy
Country of Asset Location
Egypt
Disposition of Criminal Case(s)
There were concluded investigation in the country of origin (Italy) and in the country of asset location (Egypt). The outcomes were Judgements of conviction handed down against the accused. Cairo Criminal Court's ruling on returning the assets to the affected foreign party.
Action Initiating Asset Recovery
By an MLA request from the country of origin
By domestic investigation by law enforcement authorities (independent from foreign request)
Stage of Asset Recovery
Assets confiscated
Which authorities or agencies were involved in the asset recovery/return process
In the country of asset location (Egypt), the Cairo Criminal Court was involved.
Legal Basis for Asset Recovery in the country of asset location
Court-ordered compensation, restitution, or damages awarded to a foreign jurisdiction
Legal Basis for International Cooperation
N/A
Contributing Factors in Asset Recovery
FIU’s power to suspend suspicious transactions
Other
Specify Other
INTERPOL/StAR Global Focal Point Network
Agreement for Returned Assets
No
Assets Confiscated
#1
Assets confiscated
13,041,650.02 EUR
Assets confiscated (USD equivalent)
$13,967,241.98
Date of confiscation
August 2019
Jurisdiction
Egypt
Asset Type at Time of Confiscation
Cash/bank deposit
Assets Frozen/Seized
#1
Jurisdiction
Egypt
USD Conversion date
September 2023
Date and Country of Case Submission
January 1, 2020
Egypt
Data Source
Official information provided by country authorities