Illegally Acquired Property will be Confiscated in Russia

The question will be reviewed in State Duma.

01.May.15 1:46 PM
By Abigail Richards
Photo Toinnov.com

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Illegally Acquired Property will be Confiscated in Russia

General Prosecutor’s Office has introduced to the State Duma new law which considers confiscation of presumably illegally acquired property. According to preliminary information the question is already reviewed by State Duma deputies.

Experts say that presumably illegally acquired property includes property which purchase or acquirement can’t be explained by the owner.

It is also known that the idea of new law is to make it easier for the court to confiscate property on prosecutors’ request. Property includes estates and other things that are owned by suspects and accused of crimes connected with large sums of money. At the same time it is noted that confiscation will be made in case the owner is not able to explain acquirement or purchase of his or her property. If Russian citizen explains legal ways of acquirement his property won’t be confiscated.

At the same time experts note that though new law is acceptable there may be some difficulties connected with its implementation especially during first several months.

Such law is used in Italy starting from 80’s. Experts say that it helped to eliminate notorious Italian mafia.

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