Page 28 - MONACO LAW REVIEW 2025-2

CONTROLLED ASSET
MANAGEMENT
The Offi ce for the Management of Seized and Confi scated
Assets (SGA) now oversees all criminal assets. As a
result, the previous risk of asset depreciation no longer
constitutes an obstacle to judicial decisions ordering
seizure and confi scation.
Management
of Criminal Assets
Richard DUBANT
Richard DUBANT
Director of the SGA
Director of the SGA
Assets Worth 300 Million Euros
The Offi ce for the Management of Seized and Confi scated
Assets (SGA) was established by Law No. 1.535 of 9 December
2022 on the seizure and confi scation of instrumentalities
and proceeds of crime. The legislative provisions were
supplemented by Sovereign Ordinance No. 10.245 of 7
December 2023.
The SGA is an administrative service operating under
the authority of the State Secretary of Justice. Acting upon
judicial mandate, its responsibilities include:
1°) managing all property, of whatever nature, that has
been seized, confi scated, or made subject to a preservation
order during criminal proceedings, where such assets are
entrusted to the SGA and require acts of administration. The
offi ce must also, insofar as possible, ensure their valuation
by taking administrative measures, including in the presence
of highly volatile assets whose future fl uctuations cannot be
determined without risk;
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2°) the centralised management of all sums seized during
criminal proceedings;
3°) the disposal or, for movable assets only, the destruction of
seized property the SGA has been mandated to manage under
item 1 above, under the conditions set out in Articles 81-7-3
and 268-12 to 268-14 of the Code of Criminal Procedure, and
the disposal of movable or immovable property that has been
confi scated pursuant to orders of the judicial authority;
4°) the centralised and computerised management of data
relating to all seized and confi scated assets, regardless of
their nature, provided they do not constitute evidence;
5°) issuing, at the request of the General Prosecutor’s Offi ce
or the Investigating Judge, any opinion deemed necessary by
those authorities and providing operational assistance where
appropriate;
6°) organising information and training activities to raise
awareness of its mandate and promote good practices
supporting the effective implementation of seizures and
confi scations in criminal matters.
In addition, the offi ce may assume responsibility for
managing, and for disposing of or destroying, seized or
confi scated assets in execution of any request for mutual
legal assistance or cooperation issued by a foreign judicial
authority.
At the request of the State Secretary of Justice, the offi ce
allocates the proceeds of the sale of seized or confi scated
assets in execution of any request for mutual legal assistance
or cooperation from a foreign judicial authority. Lastly, the
offi ce may proceed with the priority payment, from the
funds or liquidated value of the convicted person’s assets
that have been confi scated, of any sum awarded to a victim
who has joined the proceedings as a civil party and obtained
a fi nal decision granting damages for loss resulting from a
criminal offence, where the victim has not otherwise been
compensated or fully indemnifi ed.
As at 1 June 2025, the SGA employs fi ve staff members and is
expected to reach its full staffi ng level of nine by the end of 2026.
Despite its still-modest resources, the SGA is already
responsible for 125 cases involving 286 seized or confi scated
assets with an estimated value exceeding EUR 300 million.
Managing High-Value Assets
Given the economic and geographic landscape of the
Principality of Monaco, the SGA is required to manage
high-value assets and to contribute to the execution of
international mutual legal assistance requests at the direction
of Investigating Judges.