U.S. Seeks Assets of Ex-Riggs Executive [View All]

Government Alleges Improper Transfers

By Terence O'Hara
Washington Post Staff Writer
Wednesday, December 29, 2004; Page E01

Federal lawyers are seeking to seize nearly $1 million and property owned by Simon P. Kareri, a onetime senior vice president at Riggs Bank who managed the accounts of African and Caribbean embassy clients, arguing that the assets are tied to money laundering.

In a court filing Dec. 7, the government alleged Kareri, without authorization, wired $700,000 from a Riggs account belonging to the government of Equatorial Guinea into an account controlled by a company he created. The U.S. government is seeking to seize those and other funds in Kareri's accounts, totaling nearly $1 million.

The forfeiture proceedings are not a criminal action, and Kareri has not been charged with a crime. His lawyers, Jonathan Shapiro and Christopher Hoge, did not return calls seeking comment. Kareri did not respond to a message left at his home yesterday.

U.S. attorneys involved in the case also could not be reached yesterday. The proceedings were reported in Monday's Legal Times.

http://www.washingtonpost.com/wp-dyn/articles/A32473-2004Dec28.html