US Seizes Certificates Bought By Former Nicaraguan President

U.S. officials have seized $700,000 worth of certificates of deposit purchased on behalf of former Nicaraguan President Arnoldo Aleman.

Immigration and Customs Enforcement officials in Miami, Florida said Wednesday the certificates were bought with money stolen from the Nicaraguan government.

Aleman was convicted and sentenced in Nicaragua to 20 years for money laundering and embezzlement in 2003.

U.S. officials say his wife flew to Miami in 2002 and requested the certificates of deposit be transferred to members of her family.

Immigration and Customs Enforcement then seized the CDs. The agency says the funds will be deposited into the U.S. Treasury Forfeiture Fund.

By VOA News

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Posted December 28th, 2006 by Dinka