Civil Asset Forfeiture What is forfeiture? A basic definition of forfeiture can be found nearly anywhere on the internet, including this one from Merriam-Webster, “the loss of property or money because of a breach of a legal obligation.” According to the Federal Bureau of Investigation’s website, there are two types of forfeiture, that of criminal and of civil. Criminal forfeiture typically happens after a criminal has already been charged with something after going through a legal process. They
Civil asset forfeiture has been the subject of public debate among the news media and law-makers nationwide; mainly in opposition of the practice. Civil asset forfeiture, in large, is the seizure of money and/or property from those who commit drug crimes. For instance, if an officer stops a vehicle and legally finds that there is a felony amount of narcotics inside the vehicle, and the owner has intentions of selling those drugs, that vehicle is subject to seizure along with any money that is found
Civil Asset Forfeiture (CAF) is a relatively recent law to be enacted, and increasing controversy was quick to follow. The American Civil Liberties Union describes CFA as a set of laws that “allows police to seize — and then keep or sell — any property they allege is involved in a crime.” In present-day America, police now have the authoritative power to take one’s possessions if they deem it necessary. This gives rise to questions that place CAF under scrutiny. What is the extent to which one’s
civil asset forfeiture, they are given even more power. They are allowed to take our homes, our money, and our prized possessions if they have proof beyond a reasonable doubt that it’s involved in a crime. Civil asset forfeitures also vary by state. Most people don’t even go after the police in court for the stuff that they seize from them due to the process they have to go through. This cases tend to appear as United States of America v. 120,000 dollars in currency. Civil asset forfeiture is something
stakeholders are interested in whether civil forfeiture laws stay the same, whether citizens will obtain increased protections, or whether law enforcement’s civil forfeiture reports will become more transparent. Options Specification The options include the review of local government expenditures for civil forfeiture, proceeds from civil forfeiture going to the general fund, and forbidding civil forfeiture. Review of local government expenditures for civil forfeiture: This option requires law enforcement
Forfeiture, or more specifically asset forfeiture, is, “… an enforcement strategy that federal statutes and some state laws support… [authorizing] judges to seize ‘all monies, negotiable instruments, securities, or other things of value furnished or intended to be furnished by any person in exchange for a controlled substance… and all proceeds traceable to such an exchange’” (Schmalleger, 2015, p. 546). The Federal Bureau of Investigation (n.d.) explains the purpose of asset forfeiture as a means
CIVIL FORFEITURE In the United States, non-conviction based ("NCB") Forfeiture is known as "civil forfeiture." This legal procedure might be brought whenever preceding or after criminal accusations are recorded, or regardless of the possibility that criminal allegations are never documented. It is an activity recorded in court against a property, not against a man. Once the U.S. Lawyer's Office gets a referral from a seizing organization of a seized resource case, that office has 90 days to either
War, Minorities and Labor Unions The 1950’s beatniks gather around coffeeshops, writing and grumbling about the unfairness of the government and society’s closed mind. Today, youth gather around their laptops and type away, despairing over the unfairness of the government and society’s closed mind. Allen Ginsberg’s poetry embodies those angry youth. His unique choices in diction, symbolism and imagery artfully conveys his criticism against the wrongdoings of Uncle Sam and his subjects. Through
doubtful debt, balance sheet can be seen as subjective. For example, the choices of depreciation methods may affect the carrying amount of non-current assets and the business’s estimation of equity, i.e. wealth, as a whole. Additionally, the balance sheet leaves out many assets and liabilities that cannot be expressed in monetary terms i.e. intangible assets, contingent liabilities. Also, in the estimation of fair value, the use of Level 3 of the fair value hierarchy may raise the subjectivity of the balance
A Loan Versus A Sale Enron’s Case of fraudulent transactions with the banking firm of Merill Lynch proves to be a perfect example of how loans are used to boost sales while in fact they’re technically not sales. In 2004 the “Nigerian barge” transaction ensued with Enron selling electricity-generating power barges to Merill Lynch. A huge sale as the company executives recorded it but it turns out it was actually a loan rather than a sale and that Enron did not actually earned from the transaction
preparation of the financial statements; providing reasonable assurance that receipts and expenditures are made in accordance with management authorization; and providing reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on the financial statements would be prevented or detected on a timely basis. Due to the inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement
By dividing net sales by net fixed assets, an investor can see if the company is using its fixed assets efficiently. Since fixed assets are often high price items, it is important that a company is using the fixed assets well; the higher the ratio, the better. Since we are lacking information on what type of industry this is, it is hard to put to much significance on the ratio
doesn't it? If the bill is so great, how is it that our private information is still getting out there? Well, let's take a closer look. According to an article that I found through Yahoo!, companies are using the consumer's information as a company asset just in case the company was to go bankrupt. In the article it talks of how Amazon.com has reviewed it privacy policies and has decided to just get ready to sell anything they have on a consumer, such as; "names, shipping
Discussion Board Forum 1 Sarah Blackwell BUSI 620-D06 July 2, 2015 1. Before Sarah quit her job as a carpenter, she was earning $35,000 per year. She rented abuilding for $12,000 per year and opened a cabinet shop. She spends $148,000 per yearfor labor, materials, utilities, and advertising. (i) How much revenue will the business have to earn in order to break even in termsof business profit? (i) Accounting cost = 12,000 + 148,000 = $160,000 (ii) How much revenue will the business have to earn in
They are concerned with the levels of equity and debt in the farm. o Debt Ratio: = Total Farm Liabilities / Total Farm Assets This ratio represents a level of debt to assets for a farm. This type of ratio is often referred to as a leverage ratio. It is a good indicator of the level of financial risk associated with the farm. o Gearing Ratio: = Total Farm Liabilities / Total Farm Equity The real
The Tylenol Murders What might have been the consequences if Johnson & Johnson had decided to “tough out” the first reports of Tylenol-related deaths and not recall the product? Quite honestly the company would be in ruins and unable to repair their already tarnished image. Though the company produces other products, there would be the consequences of losing loyal consumers and relationships would suffer with focal businesses such as hospitals and distribution centers. In addition, the company
Denver’s return on assets, profit margin, and asset turnover, both with and without the new product line are: The return on asset $12,000/$100,000 = .12 current results, $13, 500/$100,000 = .135 proposed without cannibalization, $12,000/$100,000 = .12 proposed results with cannibalization, next the Profit margin $ 12,000/$45,000 = .27 current results, $13,500/$60,000 = .225 proposed results without cannibalization, $12,000/$50,000 = .24 proposed results with cannibalization, and lastly, Asset turnover $45
Capital task assets might be utilized by government, nearby government and certain not-for-profit associations when they are attempted sure sorts of capital ventures. The reserve is utilized to represent the assets utilized in capital ventures including the development of new structures, increases to structures and certain buys of gear. The capital tasks store will be utilized amid the life of a capital undertaking and will be shut toward the finish of the venture. There are standards and confinements
SHORT TERM (LIQUIDITY) - quick ratio, current ratio LONG TERM (PROFITABILITY) - steady growth, return on sales Netflix is financially viable in the short term, and the company will likely stabilize in the long term. When evaluating the financial health of Netflix over the past five years, it was found that the current ratio is generally increasing, despite a decrease in 2016, showing investors that the company will be financially viable in the future. The quick ratio also shows investors that Having
can perceive Raytheon as a good investment for stockholder’s value. Ratio Analysis (1) Current Ratio (current assets / current liabilities) (in millions except ratio) 2016 2015 Total current assets $10,678 $9,812 Total current liabilities $6,427 $6,126 Current Ratio 1.66:1 1.60:1 The current ratio shows the ability for the company to pay back all liabilities with current assets. The fact that Raytheon has a current ratio above 1:1 means that the company could pay back all liabilities, this