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Defending Against Asset Forfeiture

By Jonathan B. New and Christy Nixon
February 27, 2013

Asset forfeiture has become a powerful weapon in the Department of Justice's (DOJ's) anti-fraud and financial crime arsenal, adding to the challenges faced by counsel representing individuals and companies in the cross-hairs of a government investigation. With the professed goal of taking the profit out of crime, the DOJ has aggressively prosecuted economic crimes and pursued higher-value forfeitures. See GAO Report to Congressional Requesters, Justice Assets Forfeiture Fund, Transparency of Balances and Controls over Equitable Sharing Should Be Improved (July 2012), available at www.gao.gov/assets/600/592349.pdf; DOJ, National Asset Forfeiture Strategic Plan 2008-2012 (2008), available at www.justice.gov/criminal/afmls/pubs/pdf/strategicplan.pdf.

U.S.'Attorneys' offices reportedly collected $13.1 billion nationwide in criminal and civil forfeiture actions during fiscal year 2012, more than doubling the $6.5 billion collected in fiscal year 2011. In fact, fiscal year 2012's forfeitures nearly matched the $13.18 billion collected in fiscal years 2010 and 2011 combined, half of which have been reported to involve white collar crime. Press Release, U.S. Attorney's Office Announces Record Collections in Civil & Criminal Actions in Fiscal Year 2012 (Dec. 11, 2012), available at www.justice.gov/usao/ncw/pressreleases/Charlotte-2012-12-11-financial-recoveries-2012.html; Alice W. Dery, Overview of Asset Forfeiture, ABA Business Law Today, 1 (June 2012), http://apps.americanbar.org/buslaw/blt/content/2012/06/article-02-dery.shtml.

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