U.S. v. Oil Tanker “Grace 1,” all petroleum aboard Grace 1, and $999,950.00 Associated with Paradise Global Trading LLC (D.D.C. 2019) - <i>in rem</i> Forfeiture Complaint

Date issued: Aug. 06 2019

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TURBOFAC Commentary (1185 words)

Notes:

1) BACKGROUND

This complaint and warrant for arrest of property were filed in connection with a "Mutual Legal Assistance" request made by the U.S. Government to the Government of Gibraltar in connection with Gibraltar's detention of the Iranian-linked oil tanker "Grace 1," and pursuant to the Mutual Legal Assistance Treaty (MLAT) between the U.S. and U.K. The case was widely reported on at the time [1].

The complaint can be divided between the issues related to the $999,950 and issues related to the oil tanker.

2) THE $999,950.00 LOCATED IN THE U.S.; "REASONABLE CAUSE TO BELIEVE" A BLOCKED PERSON HAS AN "INTEREST" IN FUNDS

The portion of the complaint related to the $999,950 reflects the DOJ's relatively recent practice of treating the blocking of property pursuant to sanctions laws as a quasi-vesting measure. When funds...