Evelyn Sheehan on the DOJ’s Challenges in Returning Corrupt Proceeds
July 20, 2020
Publication: Global Investigations Review
Though the U.S. Department of Justice’s Kleptocracy Asset Recovery Initiative has recovered billions in corrupt proceeds, the return of the money to still corrupt or autocratic regimes without risking further misconduct has been a challenge, Kobre & Kim’s Evelyn Sheehan pointed out when she sat down with Global Investigations Review.
One of the most notable examples has been the attempt at returning hundreds of millions of dollars stolen by a former Nigerian dictator back to the Nigerian people. There have been concerns that some of the money will go to a contractor that is a subsidiary of a company with a history of FCPA violations. Sheehan believes that “work remains to ensure these monies are not re-looted by corrupt or autocratic regimes,” and that the Nigeria case “underscores the need for greater oversight and controls, even if it means delay.”