Luxembourg, Switzerland and Peru have signed a trilateral agreement for the return of assets seized and confiscated in connection with a corruption case involving a former senior Peruvian official.
This is a first for Luxembourg which is returning a sum of nearly €10 million to Peru, on condition that these funds benefit the Peruvian people. The money is intended to finance projects in Peru aimed at strengthening the rule of law and the fight against corruption. The use of funds is subject to the principles of transparency and accountability.
Luxembourg's Minister of Justice, Sam Tanson, welcomed this trilateral agreement: “This exemplary step shows that the Luxembourg government wishes to preserve its financial centre from capital resulting from illegal transactions, in particular from corruption, as in this specific case. This agreement between Luxembourg, Switzerland and Peru shows that cooperation between authorities can lead to a happy ending. The Peruvian people get the money they are owed and can invest it usefully".
Luxembourg's Minister of Foreign and European Affairs, Jean Asselborn, added: “This result is the culmination of several years of efforts and the constructive negotiations that we have carried out with our Swiss and Peruvian partners. I am happy that we can thus promote both the fight against corruption and the strengthening of the institutions of the rule of law”.
The returned assets come from acts of corruption committed in Peru. Cooperation with the Peruvian authorities resulted in the confiscation of around $16.3 million in Switzerland and €9.7 million in Luxembourg. The three states have joined forces to find a solution in accordance with international standards. The assets recovered in Luxembourg and Switzerland will be used for projects aimed at strengthening justice and the fight against corruption.
This restitution is also a concrete contribution to the seventeen United Nations (UN) sustainable development goals (SDGs).