Asset forfeiture

Extracted Attributes

• Scope

  Alleged proceeds or instruments of crime, including terrorist activities, drug-related crimes, and other criminal and civil offenses

• Purpose

  Deprive criminals of proceeds, break financial backbone of organized criminal syndicates and drug cartels, recover property for victims, deter crime, disrupt criminal activity

• Also known as

  Asset seizure, confiscation

• Process Steps

  Seizure, Adjudication, Distribution

• Legal Basis (US)

  Comprehensive Crime Control Act of 1984

• Impact on Retention

  Extent of asset forfeiture can increase with the percentage of assets retained by authorities, influenced by electoral incentives

• Types of Forfeiture (US)

  Criminal Forfeiture (requires conviction), Civil Judicial Forfeiture (in rem, against property, no conviction needed), Administrative Forfeiture (no court case, agency-led)

Timeline

• The U.S. Congress passed the Comprehensive Crime Control Act, which created the federal Asset Forfeiture Program, providing legal and regulatory tools for federal prosecutors and agents. (Source: Web Search - U.S. Marshals Service)

  1984

• Molly Bloom's illegal decision of raking her high-stakes poker game, 'Molly's Game', precipitated an FBI investigation and raid. (Source: Related Documents)

  Prior to 2014

• Molly Bloom was prosecuted by the Southern District of New York for her involvement in illegal poker games. (Source: Related Documents)

  Prior to 2014

• The U.S. government seized Molly Bloom's life savings through asset forfeiture, leaving her broke and facing prison. (Source: Summary, Related Documents)

  Prior to 2014

• The value of assets seized and the amount distributed in state asset forfeiture cases in California generally increased until this year, after which it fluctuated. (Source: Web Search - Legislative Analyst's Office California)

  2016

• The value of assets seized in California reached $83.9 million, representing a 69 percent increase compared to 2016. (Source: Web Search - Legislative Analyst's Office California)

  2020

• The Department of Justice completed the sale of a motel in Long Island for $2 million, with the remaining proceeds earmarked for forfeiture to compensate victims of a sex trafficking and narcotics conspiracy. (Source: Web Search - FBI)

  2023-10

Asset forfeiture

Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation. It typically applies to the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities, drug-related crimes, and other criminal and even civil offenses. Some jurisdictions specifically use the term "confiscation" instead of forfeiture. The alleged purpose of asset forfeiture is to disrupt criminal activity by confiscating assets that potentially could have been beneficial to the individual or organization. Asset forfeiture was found to generally increase with the percentage of the assets retained depending on electoral incentives.

Web Search Results

• Types of Federal Forfeiture - Department of Justice

  Asset forfeiture is a critical legal tool that serves a number of compelling law enforcement purposes. Asset forfeiture is designed to deprive criminals of the proceeds of their crimes, to break the financial backbone of organized criminal syndicates and drug cartels, and to recover property that may be used to compensate victims and deter crime. [...] defendant is convicted. As part of sentencing, a court may order the forfeiture of a specific property listed in the indictment, a sum of money as a money judgment, or other property as substitute property. The government must establish by a preponderance of the evidence the requisite connection between the crime of conviction and the asset. After a preliminary order of forfeiture is entered, a separate, ancillary proceeding begins to determine any third-party ownership interests in the [...] | Administrative Forfeiture | In rem (against the property) action that permits personal property to be forfeited to the United States without filing a case in federal court. The administrative forfeiture process occurs before the agency that seized the assets when no one has filed a claim contesting the seizure. There are many procedural requirements, including strict time limits and noticing requirements, designed to protect the interests and rights of property holders. Any seizure of

• Asset Forfeiture | U.S. Marshals Service

  The Asset Forfeiture Program was created in 1984 when Congress passed the Comprehensive Crime Control Act, which provided federal prosecutors and agents the legal and regulatory tools necessary to keep up with, and ahead of, those who commit crime for economic benefit. The U.S. Marshals Service plays a critical role in identifying and evaluating assets that represent the proceeds of crime as well as efficiently managing and selling assets seized and forfeited by Department of Justice. [...] Asset forfeiture payees are required to complete a valid Unified Financial Management System (UFMS) Vendor Request Form to receive payment. Generally, valid submissions must be completed electronically, must contain a valid Consolidated Asset Tracking System (CATS) Party Identification Number or, in the case of Department of Justice Equitable Sharing Program payees, National Crime Information Center (NCIC) Code, and valid nine-digit American Bankers Association (ABA) Routing Number.

• [PDF] Overview of State Asset Forfeiture in California

  How Does the Asset Forfeiture Process Work? „ The asset forfeiture process generally involves three steps: (1) seizure, (2) adjudication, and (3) distribution. Federal, state, and local laws and policies dictate the various processes and procedures that must be followed at each step of the process. „ Seizure — Law enforcement agencies are authorized to conduct seizures for certain types of criminal offenses and under specified circumstances. For example, law enforcement officers must generally [...] #240331 L E G I S L AT I V E A N A LY S T ’ S O F F I C E 7 Value of Assets Seized and Amount Distributed in State Asset Forfeiture Cases Has Fluctuated „ As shown in the above figure (updated from our 2020 report), both the value of assets seized and the amount distributed generally follows similar trends. Both generally increased until 2016. „ The value of assets seized has fluctuated since 2016. The $83.9 million seized in 2020 is 69 percent higher than the amount seized in 2016. However,

• Asset Forfeiture - FBI

  Asset forfeiture is a powerful tool used by law enforcement agencies, including the FBI, against criminals and criminal organizations to deprive them of their ill-gotten gains through seizure of these assets. ## History of Asset Forfeiture Asset forfeiture has its roots in the ancient practice by governments to defend against piracy through the seizure of vessels and contraband. [...] Civil Judicial Forfeiture: Civil judicial forfeiture is a judicial process that does not require a criminal conviction and is a legal tool that allows law enforcement to seize property that is involved in a crime. Referred to as an in rem (against the property) action, it is an action filed against the property itself, rather than a person. In civil judicial forfeiture, an individual has the right to contest the seizure through trial proceedings. The government then must prove that the [...] In October of 2023, the United States, through the Department of Justice, completed the sale of a motel in Long Island for $2 million. Pursuant to the terms of the sale, any proceeds remaining after the property’s lenders have been compensated will be earmarked for forfeiture to the Government. This will enable the Department to seek their use in compensating victims at the center of a sex trafficking and narcotics conspiracy. For years, the motel was used to operate a sex trafficking business

• Asset Forfeiture Program - Department of Justice

  To achieve these goals, the Department of Justice uses asset forfeiture to the fullest extent possible to investigate, identify, seize, and forfeit the assets of criminals and their organizations while ensuring that due process rights of all property owners are protected. Asset forfeiture plays a critical role in disrupting and dismantling illegal enterprises, depriving criminals of the proceeds of illegal activity, deterring crime, and restoring property to victims. The effective use of both [...] The mission of the Department of Justice (DOJ) Asset Forfeiture Program (AFP or the Program) is to use asset forfeiture as a tool to deter, disrupt and dismantle criminal enterprises, denying them the proceeds and the instruments of criminal activity. The AFP involves federal, state, tribal and local law enforcement agencies across the country. Our Goals The Asset Forfeiture Program’s primary goals are: [...] To punish and deter criminal activity by depriving criminals of property used in or acquired through illegal activities. To promote and enhance cooperation among federal, state, local, tribal, and foreign law enforcement agencies. To recover assets that may be used to compensate victims when authorized under federal law. To ensure the Program is administered professionally, lawfully, and in a manner consistent with sound public policy.