The Freezing Assets of Corrupt Regimes Act, a bill tabled in Parliament last week, is a good start at preventing tyrants and their close relatives from enjoying ill-gotten gains. But it depends upon regime change and does not deal with current misappropriations by incumbent dictators and their associates.
If the bill is passed, as seems likely, the Canadian minister of foreign affairs will be able to freeze assets if and only if the government of the foreign country concerned makes a request for a freezing order.
Teodoro Nguema Obiang Mangue, the son of Teodoro Obiang Nguema Mbasogo, who since 1979 has been the President of Equatorial Guinea, a small but oil-rich country, owns a $30-million house in Malibu, Calif., and was recently reported to have ordered a $380-million yacht to be built in Germany. His $60,000 salary as the Minister of Agriculture and Forestry would not enable him to make such purchases. It is reasonable to suspect misappropriation of Equatorial Guinea’s wealth. But if Mr. Obiang Mangue had assets in Canada, the bill could not freeze them unless his presidential father asked Canada to do so – or was overthrown.
At present, Canada could only act in such a case by establishing a whole sanctions regime against the country. As for the International Criminal Court, its prosecutor has power to lay charges for genocide, crimes against humanity and war crimes, but not for massive thefts and frauds.
The new bill does do more than locking barn doors after the tyrannical horses have fled. Still, the Canadian Departments of Justice and Foreign Affairs should continue on the same path, to think about ways to help interrupt misappropriations that are works in progress by people who are still in power. It is always a delicate matter to try to correct injustices in foreign countries in which their governments are implicated – but Canada should be prepared to deal with the most flagrant cases, when the profits of unjust enrichment find their way to this country.
If the bill is passed, as seems likely, the Canadian minister of foreign affairs will be able to freeze assets if and only if the government of the foreign country concerned makes a request for a freezing order.
Teodoro Nguema Obiang Mangue, the son of Teodoro Obiang Nguema Mbasogo, who since 1979 has been the President of Equatorial Guinea, a small but oil-rich country, owns a $30-million house in Malibu, Calif., and was recently reported to have ordered a $380-million yacht to be built in Germany. His $60,000 salary as the Minister of Agriculture and Forestry would not enable him to make such purchases. It is reasonable to suspect misappropriation of Equatorial Guinea’s wealth. But if Mr. Obiang Mangue had assets in Canada, the bill could not freeze them unless his presidential father asked Canada to do so – or was overthrown.
At present, Canada could only act in such a case by establishing a whole sanctions regime against the country. As for the International Criminal Court, its prosecutor has power to lay charges for genocide, crimes against humanity and war crimes, but not for massive thefts and frauds.
The new bill does do more than locking barn doors after the tyrannical horses have fled. Still, the Canadian Departments of Justice and Foreign Affairs should continue on the same path, to think about ways to help interrupt misappropriations that are works in progress by people who are still in power. It is always a delicate matter to try to correct injustices in foreign countries in which their governments are implicated – but Canada should be prepared to deal with the most flagrant cases, when the profits of unjust enrichment find their way to this country.
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