Asset Recovery Watch

ARW-81
IBM / Banco de la Nacion Officials (Alfredo Adaco, Mario Dadone, Genaro Contartese, Hugo Gaggero)
Argentina
Officials of State Owned Enterprise
Switzerland
Asset Location / Alleged Asset Location
1994
2010, Ongoing
Art.16, Art.19, Art.23
Yes
Criminal Prosecution and Forfeiture; Actions Initiated by Foreign Jurisdiction
MLAT
Unspecified
Settlement agreement by defendants
Completed
Assets Returned to Victim or Requesting Jurisdiction
$4,500,000
No

In June 1999, Switzerland returned $4.5 million in suspected bribe funds to Argentina. (Source: Swiss Ministry of Foreign Affairs, September 30, 2009). According to a 2010 report by the Argentina's Ministry of Justice Office of Anticorruption report, total of $18,286,683 were recovered in the related cases. (Source: Republic of Argentina, Ministerio de Justicia, Seguridad y Derechos Humanos, Oficina anticorrupcion, "Recupero de Activos en Casos de Corrupcion," 2010, at 37-38.)

According to a report by the Argentina's Ministry of Justice, the defendants in the case pleaded guilty. (Source: epublic of Argentina, Ministerio de Justicia, Seguridad y Derechos Humanos, Oficina anticorrupcion, "Recupero de Activos en Casos de Corrupcion," 2010, at http://www.anticorrupcion.gov.ar/documentos/Recupero%20de%20Activos%20-%....) For information on IBM's U.S. cases, please see Shearman & Sterling law firm's Foreign Corruption Practices Act database at http://fcpa.shearman.com/index.php.

Unspecified
Ministerio Publico Procuracion General de la Nacion
Cámara de Casación penal.
Unspecified
Unspecified
Unspecified