The Unexplained Wealth Unit is responsible for investigating and confiscating unexplained wealth. Unexplained wealth refers to properties (including cash, real estate, vehicles, investments, precious stones and metals, virtual assets, and other valuables) whose origin cannot be satisfactorily accounted for by the person who owns, possesses, has custody of, or controls the property.
The Unexplained Wealth Unit may investigate whether any person
Application
Part VI of the FCC Act applies to:
Unexplained Wealth Orders
When the Commission applies for an Unexplained Wealth Order and the Judge is satisfied that the respondent has unexplained wealth, the Judge shall issue the order, which may include the confiscation of the property or an order for the payment of its monetary equivalent.
Once an Unexplained Wealth Order takes effect, the property will vest in the State. The Commission is responsible for disposing of any confiscated property and must deposit the proceeds from the sale or disposal, as well as any recovered funds, into the Recovered Assets Fund.
