Corrupt Funds Seized in Jersey Returned to Combat Financial Crime in Mozambique

Over £800,000 in ill-gotten funds, stashed away by a corrupt Mozambique civil servant in a Jersey trust, are set to be repatriated to Mozambique to bolster efforts against financial crime. Carlos Fragoso, formerly overseeing road and bridge maintenance in Mozambique, established the Tolvex Trust in 1996 under the guise of benefiting his family with savings from his earnings. However, in 2013, the Royal Court of Jersey determined that the funds were proceeds of bribes, prompting suspicions about the trust’s origins.

Jersey officially known as the Bailiwick of Jersey, is an island country and self-governing British Crown Dependency near the coast of north-west France.

Jersey’s Attorney General, Mark Temple, and Mozambique’s Vice-Attorney General, Alberto Paulo, have reached an agreement to return £829,500 to Mozambique, marking the first asset return arrangement between the two countries. Fragoso, who held prominent positions within Mozambique’s infrastructure sector, was found to have received bribes from firms vying for construction contracts in the country.

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The forfeiture of funds held by the Tolvex Trust was pursued by Mozambique authorities and Jersey’s Economic Crime and Confiscation Unit, culminating in the successful repatriation of the seized assets. Mozambique intends to utilise the returned funds to enhance law enforcement capabilities and combat financial crime effectively. Additionally, resources will be allocated to provide training on international and judicial cooperation in criminal matters to officials across Mozambique.

Attorney General Temple expressed satisfaction with Jersey’s role in facilitating Mozambique’s asset return, emphasising the strengthening of law enforcement and anti-corruption agencies in Mozambique. Vice-Attorney General Paulo hailed the return of the funds as a triumph for justice and the rule of law, underscoring the commitment to ensuring that crime does not go unpunished and that public resources are utilised transparently for societal benefit.

The collaborative effort between Jersey and Mozambique highlights the importance of international cooperation in combating financial crime and holding corrupt individuals accountable for their actions. Through such initiatives, efforts to promote transparency and integrity in governance are reinforced, contributing to the broader fight against corruption and illicit financial activities.

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Source: Jersey Evening Post