We will have no sacred cows - SARU Head

We will have no sacred cows – SARU Head

Jul 06, 2016 News

SARU Head, Dr. Clive Thomas

As the State Asset Recovery Unit (SARU) gears for consultation on its draft legislation, the head of the department, Dr. Clive Thomas sought to reassure the citizenry that when it comes to SARU’s work, “there will be no sacred cows.”
The economist made this comment during an interview he had with this newspaper.
Thomas said that the department’s legislation is expected to be on the website of the Attorney General, Basil Williams, no later than this week. He disclosed that the draft legislation has received the blessings of leading international bodies which are part of the global fight against corruption. He said that one of these entities is FraudNet.
FraudNet is an international network of independent lawyers who are the leading civil asset recovery specialists in several countries. Its membership extends to every continent and the world’s major economies, as well as leading offshore wealth havens that have complex bank secrecy laws and institutions where the proceeds of fraud often are hidden.
Using sophisticated investigation and forensic tools and cutting-edge civil procedures, FraudNet members have recovered billions of dollars for victims of some of the world’s largest and most sophisticated global frauds involving insurance, commodities, banking, grand corruption and bankruptcy/insolvency. Its members regularly act for government agencies and regulators in obtaining domestic and international recoveries for fraud victims.
FraudNet members also pursue recoveries against financial institutions, professional advisors and other intermediaries involved in fraud.
On the powers which will be vested in SARU, Dr. Thomas said that they will have the clout of the police, customs department, taxation units and immigration.
“We would be able to freeze and/or confiscate assets, do settlements, encourage whistleblowers etc,” he added.
The SARU Head also noted that once the entity’s legislation is passed, it will be moving out of the Ministry of the Presidency into a separate complex.
“But we want people to understand that we are sincerely interested in regaining the assets which belong to the state and we are getting the support from the international community to do so. We also want people to know that our independence will not be compromised, so if they have any matter that has to do with misused or stolen state assets and it involves public officials, they can come in to us and be assured that we will look into every complaint of that nature,” Dr. Thomas assured.
He said that it matters not if those officials are from the past or current regime.
“We will not and refuse to have sacred cows,” he reiterated.

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