The American program awards prizes for reporting yachts, jets and mansions of Russian elites. Ukraine and Russia

The American program awards prizes for reporting yachts, jets and mansions of Russian elites.  Ukraine and Russia

officers of weCanada, Germany, Italy, France, Japan and the United Kingdom all have a task force to approve oligarchs affiliated with Vladimir Putin’s government, and in the context of this international effort, the Americans set up a program to confiscate assets. has done. Russian oligarchs who can award whistleblowers up to $5 million.

The initial idea is that boats, jets and even mansions owned by Russians linked to the Vladimir Putin regime would be discovered in these countries.

The US had adopted a similar measure even before the Russia crisis existed. The “prize” model was approved by Congress a year earlier. This also applies to assets linked to corruption in other countries.

For example, according to the US Treasury Department, prizes may also be awarded for information related to the multibillion-dollar scandal involving the Malaysian sovereign fund, known as 1MDB.

This Wednesday (16) Russian millionaires became part of this group targeted by Americans.

Dollar Bills — Photo: Disclosure

The plan is commonly known as the Kleptocracy Asset Recovery Rewards Program and was officially passed by Congress in the final days of the Trump administration as part of a defense spending bill.

To qualify, assets must be located in the United States, held by a U.S. financial institution, or otherwise in the possession of a U.S. person.

On the other hand, the path to earning the reward is more complicated. The Treasury Department’s website says a committee will consider the eligibility of the bounty on a “case-by-case basis” and recommend the amount approved by the Secretary of the Treasury, now Janet Yellen.

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About the author: Muhammad Wayne

"Travel enthusiast. Alcohol lover. Friendly entrepreneur. Coffeeaholic. Award-winning writer."

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