Lok Sabha passes Fugitive Economic Offenders Bill

Parliament of India
Parliament of India

New Delhi, July 19: The Lok Sabha on Thursday passed  Fugitive Economic Offenders Bill, 2018. 

As per the Bill, a person can be declared as a fugitive economic offender (FEO) if an arrest warrant is issued against him for any specified offences involving more than Rs 100 crore and he has fled to any other country and refuses to return to face prosecution.

To declare a person an FEO, an application will be filed in a Special Court designated under the Prevention of Money-Laundering Act, 2002.

The Bill provides for confiscation of any FEO’s property bought from the proceeds of crime as also his other assets, benami or otherwise.

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