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Americas

Swiss banks block Duvalier's millions as part of new restitution law

Text by News Wires

Latest update : 2011-02-01

The Swiss government blocked nearly $6 million belonging to former Haitian president Jean-Claude Duvalier on Tuesday under a new law targeting suspect funds. Duvalier has waged a 25-year legal battle to reclaim his millions.

AFP - Haiti ex-dictator Jean-Claude "Baby Doc" Duvalier's Swiss millions have been blocked under new legislation that came into force on Tuesday to ease their return, the Swiss government said.

Former Haitian strongman Jean-Claude "Baby Doc" Duvalier and his French wife, Michele Bennet, in 1980.
The Swiss Foreign Ministry confirmed the entry into force of the new law on the restitution of assets of politically exposed persons on its website.
             
"The Duvalier finds were then blocked under article 14," setting in motion the legal process for seizure, it added.
             
The new law was partly prompted by a 25 year legal battle between Swiss authorities and the Duvalier family over some 5.7 million dollars of allegedly embezzled funds.
             
They have been frozen temporarily in a Swiss bank since Duvalier was ousted.
             

 

Date created : 2011-02-01

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