Asset Recovery Watch

ARW-231
Lansana Conte / Mamadie Toure
President (Conte: 1984-2008, deceased), First Lady (Toure: 2000-2008)
United States
Undertaking Recovery Effort, Location of Recovery Effort, Asset Location/Alleged Asset Location
2014
Ongoing
Art.16, Art.18, Art.23
Non-Conviction Based Confiscation
Unknown
Ongoing Case
Ongoing
Before Court of First Instance
Unknown amount

In February 2016, Ms. Toure and the US authorities entered into a settlement agreement whereby Ms. Toure acknowledged that the defendant properties were proceeds of criminal conduct, namely bribery, as alleged in the forfeiture complaint.  Ms. Toure agreed to forfeit the Pierce Arrow and Fern Hammock properties and the restaurant equipment while the US dismissed without prejudice its claim against the Yacht Basin Property.  A Consent Order of Forfeiture was filed in April 2016.  (Source: US v. Real Property located at 4866 Yacht Basin Drive, et al, Case No. 3:14-cv-01428 (M.D. Fla), Settlement Agreement filed February 1, 2016 and Consent Order for Judgment of Forfeiture filed April 4, 2016.)

 

In May 2015, an order for interlocutory sale of substitute property and judgment of forfeiture was granted for the restaurant  located at 132 Everest Lane, Suite 1, St. Johns, St. Johns County, Florida, 32259, and an adjacent restaurant, located at 164 Everest Lane, Suite 5, St. Johns, St. Johns County, Florida, 32259 and related equipment.  The government requested the sale, in part because the restaurant's "value is fast depreciating.  The Verified Complaint alleges that the Defendant Restaurant and Market Equipment was purchased for approximately $278,000 in 2013.  The United States’ appraisal valued the property at less than one-third that amount – approximately $87,000 – in January, 2015.  Waiting to sell the property will only result in further deterioration of its value." (Sources: Order for Interlocutory Sale and Judgment of Forfeiture filed May 7, 2015 and Consent Motion filed May 4, 2015, in US v. Real Property located at 4866 Yacht Basin Drive, et al, Case No. 3:14-cv-01428 (M.D. Fla). 

 

According to the Complaint in US v. Real Property located at 4866 Yacht Basin Drive, et al, the US is seeking to forfeit three real properties and restaurant and market equipment located in Jacksonville, Florida.  The US Department of Justice Complaint states that Ms. Toure admitted to receiving at least $5.3 million in bribery payments from a foreign mining corporation to influence her husband's decision as to the granting of Simandou project mining rights.  The complaint alleges that the properties that are being sought to be forfeited were paid with the bribery proceeds and are being held by or for the benefit of Ms. Toure, including through Florida incorporated entities. (Source: US v. Real Property located at 4866 Yacht Basin Drive, et al, Case No. 3:14-cv-01428 (M.D. Fla), Verified Complaint filed November 21, 2014; Amended Verified Complaint filed March 18, 2015.)

Mr. Conte passed away in 2008.  There appears to be no criminal proceedings against Ms. Toure. 

Federal Bureau of Investigation
Department of Justice Asset Forfeiture and Money Laundering Section
US District Court for the Middle District of Florida