NCJ Number
105691
Journal
Pentacle Volume: 6 Issue: 2 Dated: (Summer, July 1986) Pages: 3-7
Date Published
1986
Length
5 pages
Annotation
Under the Comprehensive Crime Control Act of 1984, the U.S. Government may seize and forfeit assets acquired with the proceeds of criminal activities or used in drug trade or other illegal activities.
Abstract
Responsibility for managing seized assets lies with the Marshals Service, which offers technical assistance and arranges for real estate sales and auctions to dispose of forfeited property. More than $325 million in seized cash and property is currently in the custody of the Marshals Service. Assets include banks, restaurants, resorts, jewelry, and cash. Seizures usually occur when the subject under investigation is arrested. Forfeiture occurs after judicial or administrative proceedings that grant the Government formal title to the property. Such property may be sold to the public, transferred to law enforcement agencies for official use, scrapped, or destroyed. Asset forfeiture not only produces revenues, but provides a powerful tool for dismantling the economic power of drug enterprises. Photographs.