United States: COVID-19 Unemployment Benefits Recovered Through Asset Confiscation
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- Washington AG Bob Ferguson secured a court ruling ordering TD Bank to transfer stolen funds from the Washington Department of Job Security to the state, marking the first instance in which the state’s asset forfeiture authority has been used to recover funds related to COVID-19.
- According to the AG’s office, fraud rings have stolen billions of dollars in COVID-19-related unemployment benefit funds in at least 11 states, including Washington. After an investigation to find bank accounts from which these funds had not yet been withdrawn, the office of the GA decided to exercise the powers of confiscation of state assets to recover the funds from the banks in which they were deposited, starting with TD Bank. TD Bank did not oppose the AG’s motion.
- According to the decision of Judge Bender of the King County Superior Court order, TD Bank will transfer $ 495,000 from 120 accounts to the government.
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