03/07/2019 | Press release | Distributed by Public on 03/07/2019 17:21
In its article 'Shout-Out: Akin Team Secures Repatriation of Stolen Assets,' The Litigation Daily, which is published by ALM, reported on a successful result an Akin Gump team achieved on behalf of the Kyrgyz Republic seeking the return of assets that were stolen from the country.
The firm worked with the republic's presidential administration as well as the Department of Justice's (DOJ) Kleptocracy Asset Recovery Institute to recover as much as $6 million of the total allegedly stolen from state authorities and banking institutions by the country's previous leader, Kurmanbek Bakiyev, and his son.
The case involved an individual being criminally prosecuted in New York for insider trading. According to the article, the $6 million is money that he allegedly stole from the former president's son.
Butler noted, 'It's a complicated set of facts.'
Although the Kyrgyz Republic had retained Akin Gump to recover the money late in the prosecution of this individual, the article notes that the team filed with the DOJ a little-used request known as a remission petition to win the day.
Additional information about the case and the firm's role can be found here.