draining development.pdf - Khazar University

13The Kleptocrat’s Portfolio DecisionsJames Maton and Tim DanielAbstractThis chapter contains five corruption case studies relating to politicallyexposed persons (PEPs) from Indonesia, Kenya, Nigeria (two cases), andZambia; two of these PEPs were heads of state. It details the methodologyof amassing corrupt fortunes and the ways in which the politiciansand officials involved have sought to put those fortunes beyond the reachof the law using a variety of jurisdictions perceived as havens for illicitlyacquired funds. It tracks the efforts made to recover these funds and theobstacles encountered, resulting in success in some cases and failure inothers. It emphasizes the importance of utilizing civil asset recoverypowers, in conjunction with the compulsion powers of criminal lawenforcement agencies. International mutual assistance is vital to successfulrecoveries in this area, but is by no means a given in cases that are, bytheir nature, politically high profile. Shortcomings in the law in this areaare regularly exposed by lawyers acting for defendants who are frequentlymore well funded than the people pursuing them. International conventionsrecognize the need for concerted action, but, ultimately, the leadersin individual states have to summon the political will to tackle those whohave gone before them and resist the temptation of simply following415