The State Assets Recovery Agency (SARA) has revealed that it will commence proceedings to have state assets recovered in 10 identified cases later this year.
SARA’s Director, Dr Clive Thomas reported that some 50 to 60 cases have thus far been reviewed and “Beginning at the start of the third quarter, we are hoping to focus on about 10”.
Court action is expected to begin by the fourth quarter of this year however investigations for the 10 cases will begin at the earliest since those cases will be in foreign jurisdiction.
The State Assets Recovery Act of 2017 makes provision for SARA to pursue international cases valued more than $10M Dr. Thomas noted.
The cases that are being reviewed by SARA are based on complaints and referrals.
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