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Date: November 22, 2024 Fri
Time: 11:34 am
Time: 11:34 am
Results for u.s. marshals service
1 results foundAuthor: U.S. Department of Justice, Office of the Inspector General, Audit Division Title: Audit of the United States Marshals Service Complex Asset Team Managment and Oversight Summary: The Department of Justice (DOJ) may seize and then compel forfeiture of assets used in or acquired through illegal activity. Such assets may include cash, bank accounts, vehicles, jewelry, stocks, real estate and operating businesses. The United States Marshals Service (USMS) Asset Forfeiture Division manages and disposes of properties seized and forfeited by federal investigative agencies and U.S. Attorneys nationwide. As of March 2011, the USMS held seized assets estimated to be worth over $3.8 billion, with cash and other financial instruments comprising about 93 percent of these assets’ estimated value. The Complex Asset Team within the Asset Forfeiture Division works with USMS district personnel to help secure, appraise, and dispose of assets requiring specialized commercial expertise, including operating businesses, complicated financial instruments, and large commercial real estate properties. In recent years, the size and complexity of the Complex Asset Team’s asset portfolio have grown with the greater sophistication of multimillion-dollar financial crimes – such as those perpetrated by high-profile, white-collar criminals including Bernard Madoff – that yield forfeitable assets. Mismanagement of these complex seized assets can diminish the value of seized assets, result in excessive asset management costs, and expose the government to lengthy litigation with potential claimants. Any improprieties associated with asset forfeitures also can generate public distrust that can undermine the legitimacy of asset forfeiture as a tool for combating crime. The DOJ Office of the Inspector General (OIG) recently conducted an investigation into an allegation that Leonard Briskman, the lead career official with the Complex Asset Team, owned a private appraisal business that presented a conflict of interest with his official USMS duties, which involved valuing and selling assets. The investigation did not substantiate the allegation made against Briskman, but concerns about potential irregularities in the USMS’s management of complex assets prompted the OIG to conduct this audit of Complex Asset Team operations between 2005 and 2010. Details: Washington, DC: U.S. Department of Justice, Office of the Inspector General, 2011. 98p. Source: Internet Resource: Audit Report 11-42: Accessed September 19, 2011 at: http://www.justice.gov/oig/reports/USMS/a1142r.pdf Year: 2011 Country: United States URL: http://www.justice.gov/oig/reports/USMS/a1142r.pdf Shelf Number: 122778 Keywords: Asset Forfeiture (U.S.)U.S. Marshals ServiceWhite-Collar CrimeWhite-Collar Offenses |