ID: ARW-630
US v. All assets in the name of ZASZ Trading and China Harbor Engineering, et al., No. 09 cv 0021
At time of reporting (2021), there was possibly an ongoing investigation/prosecution related to this case in Bangladesh. There was a concluded investigation/prosecution related to this case in the United States.
The manner of asset transfer was also a Singapore court ordered direct return to government of Bangladesh.
The action initiating asset recovery was also a US request based on evidence developed by US and Bangladesh.
The legal basis for asset recovery in the United States (country that initiated legal action to recover proceeds of corruption) was also forfeiture of bribes paid through son of Prime Minister following US FCPA prosecution.
The date of confiscation order was 2012 in the United States. The order was enforced in 2012 in Singapore.
The date of asset freezing/seizure order was in March 2009 in the United States. The freezing order was enforced in 2009-2010 in Singapore.
Specific factors that helped make the asset return possible in this case were US conducted FCPA criminal prosecution of bribe payers under FCPA and Bangladesh prosecuted bribe recipients. The US also filed NCB action for bribes that transited the US financial system to Singapore and Singapore after receiving the US request to restrain and enforce confiscation orders restrained the accounts and later entered a confiscation order and returned the funds directly to Bangladesh without objection from US.