Top EU Court Says Assets Can Be Seized Without Convictions

Law360, London (March 19, 2020, 3:45 PM GMT) -- Europe’s top court on Thursday gave member states a major boost in the fight against financial crime by ruling that countries can seize the assets of suspects even before a conviction.

The European Court of Justice said that bloc’s laws do not prevent domestic courts from ordering the confiscation of illegally obtained assets prior to successful criminal proceedings.

The decision boosts Bulgarian prosecutors' attempts to claw back more than €100 million ($108 million) from the former chairman of Corporate Commercial Bank, who along with other employees has been charged with embezzlement in the runup to its collapse.

“The court concludes that...

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