Country that initiated legal action to recover proceeds of corruption
Italy
Other Jurisdictions Involved
Switzerland
Disposition of Criminal Case(s)
At time of reporting (2020), there was an investigation in the country of origin.
The outcome was seizure, confiscation and sharing of 12.3 million euro (50-50) found in a specific Swiss bank account.
Action Initiating Asset Recovery
By an MLA request from the country of origin
Stage of Asset Recovery
Assets returned
Which authorities or agencies were involved in the asset recovery/return process
In the jurisdiction of asset recovery (Italy), the court involved was the Tribunal of Santa Maria Capua Vetere.
Legal basis for Asset Recovery in the country that initiated legal action to recover proceeds of corruption
Conviction-based criminal prosecution and confiscation
Legal Basis for International Cooperation
Reciprocity
Manner of Asset Transfer
Direct wire transfer to a separate, designated government account for the asset return
Notes
The date of asset confiscation order was in 2007 in Italy. The confiscation order was enforced between 2013-2015 in Switzerland.
Assets returned
#1
Assets returned
12,300,000.00 EUR
Assets Returned (USD equivalent)
$13,123,116.00
Date of return
March 2015
Asset Type at Time of Return
Cash/bank deposit
Agreement for Returned Assets
Yes – another agreement
Monitoring and Disbursement Arrangements
Italy and Switzerland found an agreement based on the Swiss Federal Act on the Division of Forfeited Assets (DFAA), dated 2004.
Assets Confiscated
#1
Date of confiscation
2007 - 2015
Asset Type at Time of Confiscation
Cash/bank deposit
Assets Frozen/Seized
#1
Date of freeze/seizure
2013 - 2015
Jurisdiction
Switzerland
USD Conversion date
September 2023
Date and Country of Case Submission
January 1, 2020
Italy
Data Source
Official information provided by country authorities
List of Sources
| Document Title | Size and Format | Document Type | |
|---|---|---|---|
| Link | Asset Return Agreement/MOU | Go to site |