US Freezes $458M Tied To Former Nigerian Dictator

Law360, Los Angeles (March 5, 2014, 8:17 PM EST) -- The U.S. Department of Justice announced Wednesday that it has frozen more than $458 million that former Nigerian dictator Sani Abacha and co-conspirators allegedly acquired through corruption and hid in bank accounts worldwide, marking the department's largest civil forfeiture action to recover proceeds of foreign official corruption.

The DOJ froze $313 million in funds held in bank accounts in the Bailiwick of Jersey in the Channel Islands and another $145 million held in accounts in France. In addition, the department restrained four investment portfolios and three...
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