The bill to adopt Asset Forfeiture Code (in Spanish: Extinción de Dominio) presented by the Office of the Attorney-General of Colombia, last April, has passed first debate in the First Commission of the Colombian House of Representatives.
The bill establishes a new regulation to have strong mechanisms enabling to pursue assets of illicit origin in the lead of criminal organizations. “The Office of the Attorney-General has about 95 thousand seized properties in the course of an Asset Forfeiture, which once it is proved its illicit origin, they could be transferred to the State” said the Colombian Attorney-General, Eduardo Montealegre Lynett.
This proposal envisages that the procedures are more expeditious and the establishment of a special fund to monetize properties, i.e., that these can be sold while judgment is pronounced; so money could set aside for care programs or victims reparations, or for the strengthening of the justice.
At present, an Asset Forfeiture procedure can last more than seven years and as have been set out in the bill the term is maximum 18 months. Attorney General Montealegre added that “the Office of the Attorney-General has cases for more than 15 years against members of drug cartels that are worth many billion pesos, which can be exploited by the State”.
Another point which is highlighted in the proposal is the inclusion of the terms of “Justicia Premial” (Reward Justice), as the plea bargain and a benefit to the defendant that would allow him/her to keep a five per cent of his properties in return for collaboration with justice, if he/she contributes to the recovery of those properties of illicit origin.
Finally, the head of prosecuting body emphasized that the bill also strengthens international cooperation, as what is expected is that decisions made abroad about asset forfeitures can take effect in Colombia.