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US moves to confiscate Koko’s stashed money

Forfeiture action sought against Koko's accounts in Singapore

Rezaul Karim
The US Department of Justice has moved to confiscate nearly $3 million from bank accounts in Singapore, which are allegedly linked to a bribery scandal in Bangladesh, involving Arafat Rahman Koko, younger son of former prime minister Khaleda Zia.
The justice department is seeking a forfeiture action against the accounts that are alleged to be the proceeds of a wide-ranging conspiracy to bribe public officials in Bangladesh and their family members, in connection with various public works projects, said Acting Assistant Attorney General
Matthew Friedrich of the Criminal Division on Friday in Washington DC.
The forfeiture action against the funds, held by multiple account holders, was filed on Thursday in a US district court in the District of Columbia.
The complaint relates primarily to alleged bribes paid to Koko, in connection with public works projects awarded by the
government of Bangladesh to Siemens AG, a German industrial conglomerate, and China Harbour Engineering Company.
The complaint said at least one payment to each of the purported consultants was paid from a US bank account.
Koko was arrested in Bangladesh along with his mother Khaleda Zia on Sept 3, 2007 after a bribery case had been filed by the country's Anti-corruption Commission (ACC). He was however later released on parole on grounds of ill health, and is now reportedly undergoing treatment in Bangkok.
The ACC on December 18 of last year disclosed that Koko has foreign currencies worth around Tk 11.43 crore deposited in a Singapore bank. With help from the Singapore government, the ACC of Bangladesh unearthed information that Koko has 20.61 lakh Singaporean dollars and 2.61 lakh US dollars.
The Singapore government also froze the account and sent necessary documents to the ACC.
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According to the US justice department forfeiture complaint, the majority of funds in Koko's account are traceable to bribes allegedly received in connection with a China Harbour project for building a new mooring container terminal in Chittagong port.
"This action shows the lengths to yyh}ch th^US law enforcerpent will go,to recover the proceeds of foreign corruption including acts of bribery and money laundering," said Matthew Friedrich.
"Not only will the department, for example, prosecute companies and executives who violate the Foreign Corrupt Practices Act, we will also use our forfeiture laws to recapture the illicit facilitating payments often used in such schemes."
Siemens Aktiengesellschaft (Siemens AG), a German corporation, and three of its subsidiaries pleaded guilty on December 15, 2008, to violations of and charges related to the Foreign Corrupt Practices Act(FCPA).
The company will pay $800 million in criminal and civil fines after admitting it paid bribes to government officials in Argentina, Bangladesh, China, Iraq, Israel, Mexico, Nigeria, Russia, Venezuela and Vietnam.
Siemens Bangladesh admitted that between May 2001 and August 2006, it caused corrupt payments of at least $5,319,839 to be made through purported business consultants to various Bangladeshi officials in exchange for favourable treatment during the bidding process on a mobile telephone project.
According to the forfeiture complaint, the bribe payments from Siemens AG and China Harbour Engineering Company were made in US dollars, and the illicit funds flowed through financial institutions in the US, before they were deposited in the accounts in Singapore, subjecting them to tire US jurisdiction.
Money laundering laws in the US cover financial transactions that flow through the country involving proceeds from foreign offences including foreign bribery and extortion.
In August 2006, the US president announced a national strategy to internationalise efforts against kleptocracy to fight high level corruption around the world.
The strategy combines policy and law enforcement tools of several federal agencies, including the departments of justice, treasury, state, and homeland security.
The case is being prosecuted by Deputy Chief Linda Samuel and Trial Attorney Frederick Reynolds of the Criminal Division's Asset Forfeiture and Money I.aunderingSection.
Additional assistance was provided by the Criminal Division's Office of International Affairs.
The case was investigated by FBI's Washington Field Office in cooperation with Bangladeshi lawenforcement.