US prosecutors "targeting assets" held in Jersey

Thursday 29 January 2015

US prosecutors are going after assets held in Jersey in “a number” of pending cases, according to a senior US official who was in the Island yesterday to sign a new partnership agreement with the Island’s prosecution service.

US Deputy Assistant Attorney General Kenneth Blanco was in the Island to sign asset-sharing deal so that when the Jersey and US authorities work together on a case, they can share any confiscated funds.

The agreement was signed on Jersey’s behalf by Attorney General Tim Le Cocq, who is about to take up the role of Deputy Bailiff.

In a statement released yesterday afternoon, Mr Blanco praised the help that his colleagues got from Jersey, and said that “a number” of cases were being worked on that targeted assets in Jersey.

He said: “The consistent and reliable cooperation we receive from our counterparts in Jersey has been indispensable to our efforts to recover many millions of dollars in criminal assets from abroad.

“Because a number of pending U.S. investigations and prosecutions involve assets located in this important international financial centre, today’s agreement can be expected to serve as a useful tool for asset recovery and sharing in the future.”

Along with Mr Blanco at the signing ceremony yesterday were Assistant Deputy Chief, Jack de Kluiver, and Senior International Counsel, Michael J. Burke, of the Asset Forfeiture and Money Laundering Section of the US Department of Justice.

Mr Le Cocq said that the money that Jersey got from the agreement would create a fund to aid more prosecutions.

He said: “I am delighted to sign this agreement which recognises the longstanding co-operation between Jersey and the United States in the field of mutual legal assistance, and facilitates this going forward. As a small jurisdiction, our ability to confiscate and share assets enables us to build a significant fighting fund to aid future investigations and prosecutions.”