FOR IMMEDIATE RELEASE
U.S. AND SWISS AUTHORITIES SIGN AGREEMENT
TO SPLIT MORE THAN $175 MILL
Washington, D.C.-- Attorney General Janet Reno and Swiss Ambassador Alfred Defago today signed an agreement which will clear the way for both countries to share more than $175 million in forfeited drug proceeds, the largest amount of forfeited money to be shared between the U.S. and a foreign government.
The agreement, known as a Memorandum of Understanding (MOU), concerns forfeited
funds that were amassed by Sheila Arana de Nasser and her ex-husband, a reputed Columbian
drug trafficker, Julio Cesar Nasser David.
The U.S. share, which is estimated to be about $90 million will be deposited into the
Justice Department's Assets Forfeiture Fund and will be funneled to law enforcement and crime
fighting efforts. "These funds will help prevent the type of drug smuggling that reaped these
profits in the first place," said Attorney General Reno.
"This is proof that crime does not paynot in the United States and not in Switzerland,"
said Ambassador Defago. "The message is clearmoney laundering is not tolerated in
Switzerland."
In March 1994, a federal grand jury in Miami indicted Sheila Arana de Nasser and Julio
Cesar Nasser David, charging the couple with conspiring to import and distribute cocaine and
marijuana over a 20 year period. Swiss authorities, who were investigating Arana for money
laundering violations, arrested her in Switzerland in 1994.
After unsuccessfully appealing her extradition, she was returned to the United States in
1995. In December of that year, Arana, 56, pleaded guilty and agreed to forfeit her share of the
tainted wealth. She was later sentenced to a 12 year prison term which she is presently serving.
At the request of the U.S., Swiss authorities froze the drug proceeds under a mutual legal
assistance treaty (MLAT) that both nations signed. The Swiss government agreed to free the
proceeds, which had been deposited in the Union Bank of Switzerland in Zurich and Lausanne,
once U.S. authorities completed the forfeiture proceedings in the U.S.
In accordance with U.S. international asset sharing laws, the Justice Department
authorized the drug proceeds to be split evenly with Swiss government.
Reno added that the forfeiture would not have been possible without the unwavering
assistance of the Government of Switzerland, including the Federal Office for Police Matters and
the investigating magistrates in the Cantons of Vaud and Zurich. She noted that their efforts
helped to identify additional bank accounts held by Arana.
Reno also praised the efforts of the U.S. Customs Service, the DEA, and prosecutors from
the U.S. Attorneys Office in Miami.
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