“How to Apply PtP to Stolen or Stranded Assets” by Aaron Bornstein and Lester M. Salamon

FOR IMMEDIATE RELEASE Contact: Chelsea Newhouse According to a recent UN report, close to US$4 trillion is stolen from governments or generated by bribes or other forms of corruption each year in countries around the world—an annual sum well above the total budgets of numerous developing and transition country governments. Despite often heroic efforts, however, the record of successful discovery, confiscation, and effective return for social re-use of these vast assets has been frustratingly meager. This limited success in returning such assets for effective social re-use is largely due to the complexity of the process. Also at work, however, is that so much of the attention has had to focus on the challenges of locating, documenting, freezing, and confiscating stolen assets that too little attention has been available to focus on the all-important question of what to do with these assets if and when they become available for potential return. The document being released today seeks to remedy this shortcoming by focusing on one of the most promising of the social re-use and return options available. This is the option exemplified by the case of the BOTA Foundation in Kazakhstan, and by close to 600 other foundations that have...

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