List: Payments From Confiscated Asset Fund

September 25, 2017 | 5 Comments

A list of payments from confiscated asset fund was provided by National Security Minister Wayne Caines in the House of Assembly on Friday [Sept 22].

The list includes $3,522,350 to ‘Government departments’, $212,366 in ‘court-ordered legal fees and other fees,’ and $667,800 to ‘local beneficiaries’ for a total of $4,402,516.

Earlier this month Minister Caines said there will be a moratorium on the ‘Cash Back for Communities’ grants as the “Confiscated Assets Fund was substantially depleted prior to my taking office and insufficient funds remain to do so,” adding that “Community organisations will continue to benefit from grants under this legislative provision and once the Fund is replenished this Government will aim to disburse funds in keeping with the spirit and intent of the law.”

The CAF Payments 2014-2017 follows below [PDF here]:

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  1. Cremated the Economy First Time - Second time lucky says:

    Total Outgoing: $ 4,402,516$.00

    Total Local: $ 667,800.00

  2. Community First says:

    Thank you for publishing these numbers Minister Cains – very impressive transparency.

    Until now these figures have been kept from the public and unavailable to our Bermuda community.

    Given these figures, we can see that of the total value of funds seized only 15% was directed toward local organisations. It would appear to be a secondary outcome of this initiative without clear criteria of how these organisations versus others including Government Departments and private Law Offices were considered and awarded. Was cabinet involved in these decisions?

    Some questions linger:

    -Are all the awarded organisations Bermuda registered charities in compliance with the Charities Act and appropriate filings?

    -Was there a criteria that was followed and if so when will it be published?

    -What is the award criteria going forward and how will our community be updated?

  3. Triangle Drifter says:

    Hope the ‘Government Departments’ that got the lionsshare of the money were BPS & Prosecutions. They were the ones who earned it. They exist becbecause of the criminals. Only fair that criminal assets pay for their opperation.

  4. Jonathan Land Evans says:

    While there is obviously something to be said for the proceeds of crime being used to benefit worthy community groups, the risk is that the scheme could become a slush-fund for cronyism. I have no idea on what basis funds are presently doled out (are groups invited to submit applications?) but I would like to think that there is some element of ‘system’ involved to guard against abuse, even if the abuse is just some particular person’s favourite group benefitting rather than some other equally worthy group. Paying the moneys instead into the Consolidated Fund might well be a better thing, overall, even if that is rather boring, since at least there can be no element of direct favouritism that way.

  5. Jonathan Land Evans says:

    While there is obviously something to be said for the proceeds of crime being used to benefit worthy community groups, the risk is that the scheme could become a slush-fund for cronyism. I have no idea on what basis funds are presently doled out (are groups invited to submit applications?) but I would like to think that there is some element of ‘system’ involved to guard against abuse, even if the abuse is just some particular person’s favourite group benefitting rather than some other equally worthy group. Paying the moneys instead into the Consolidated Fund might possibly be a better thing for the country as a whole, overall, even if that is rather boring, since at least there can be no element of direct favouritism that way and everyone would benefit more-or-less equally since pretty much everyone is ultimately a taxpayer.

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