Newman & Shapiro Law Firm Lauds The Decision Of The U.S. Treasury To Create New Whistleblower Rewards Program To Recover Stolen Assets By Russian Elites Seeking To Evade U.S. Sanctions

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BOSTON, March 18, 2022 /PRNewswire/ -- The U.S. Department of Treasury's Financial Crimes Enforcement Network created a new whistleblower program that will pay more than $5 million to any whistleblower with original information that helps them seize assets of Russian elites seeking to evade U.S. sanctions. It's called the Kleptocracy Asset Recovery Rewards Program, and it's aimed at seizing stolen assets by elites and their associates and the proceeds of their corruption. The Treasury Secretary can authorize greater amounts than $5 million if the case merits it. "This program can be used by any person, in any part of the world, who provides original information that aids in the recovery of stolen Russian assets," said Jeffrey Newman, a partner in the firm of Newman & Shapiro which represents whistleblowers worldwide. "It gives incentives to bank employees, financial insiders, real estate brokers, and anyone else who to renders primary and original information about items of value. It is expected that this tool will help the U.S. government enforce its sanctions and, hopefully, help Ukraine."