Guide To Financial Statements During The Confiscation Process

Confiscation Procedure can be very complex and confusing. As a rule, the accused is already convicted of a criminal offense and is now faced with another stressful procedure. These proceedings will cover areas that the defendant is unlikely to face with, except for the likelihood of imposing another term of imprisonment, with far-reaching financial consequences for himself, but for his family.

Often the culprit does not always confuse the best route and which people are best able to support him. Most of the time, their first port of call will be a well-known lawyer, and they are not sure if they have had success in such cases. Your chosen lawyer will usually be left to bring all the other experts and professionals who are needed to prepare their case usually including forensic accountants and lawyers.

The selection of these professionals – who can have a significant impact on their case – is usually based on the preference and prior relationships of their lawyer. Unfortunately, the experience of most individuals in this position is that their defense is often handled particularly badly, both because of the lack of understanding and the importance that the lawyers attach to their lawyers. This is not fair to the defendant, whose life is often suspended as the process progresses.

How are Confiscation procedures carried out?

The Prosecution may declare its intention to proceed under the Revenue Law at any time and anywhere if a defendant has obtained a financial benefit from a criminal offense of which he has been found guilty. A seizure process begins as soon as a defendant has been convicted of a criminal offense, if the prosecutor so requests, or if the court considers it appropriate.

A confiscation order does not mean that property is confiscated as such, as the Court considers the potential “benefit” that the defendant has derived from his criminal activities. The process aims to determine what this performance means in financial terms, and then to order a sum of money to reflect that performance.

Following the initiation of the seizure process, a financial investigation will be carried out by police financial investigators, which will identify defendants’ assets and liabilities, revenues and expenses. Financial investigations require cooperation, which is usually enforced by various jurisdictions, the financial sector, law firms, accounting firms, tax authorities, social security offices and the like.

A judge decides the merits of the case for a civilian proof and confiscates the defendant. A confiscation order is in many ways like a fine: while a confiscation order indicates the amount to be paid, it does not indicate which assets (eg, savings, home, car) should be used to fulfil the confiscation order.

The fact is that at the end of this often lengthy procedure, the Court must set a number to assess the benefits that the defendant has received. This is often referred to as an advantage number. Once this is done, the Court will have to set the available or realizable amount of benefits. The number and amount of a confiscation order by the courts continues to increase steadily. In fact, the government makes no secret of the importance it attaches to this type of revenue collection.

There are now specialized units whose job it is to “thwart” and enforce pending confiscation decisions. All of these orders are now part of a national computerized database, and any order that has not been paid within the time limit set by a court is individually monitored and reviewed weekly and monthly.

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