If the “Cleptocracy Asset Recovery Rewards Act” presented in Washington on February 27, 2018, is passed, Brazilians and other countries can report scheming assets being laundered in the US. This is as reported by Bruno Fagali’s Fagali Advocacy where reporting relevant information to the United States public authorities can result in a reward of up to $5 million. The act will give the Secretary of the Treasury the mandate to determine the amount of the reward when individuals heal reveal and recover stolen assets mostly done through complex financial structures in the US or through foreign governments’ corruption.
Bruno Fagali notes from the Act that, reporting individuals can get protection for themselves and their immediate families. The reward program is only for assets resulting from foreign government corruption involving bribery, theft, and misappropriation of foreign public assets by a public agent of the given country. Public officials are exempted from the program since it is in their best interests to report such cases without being rewarded.
These are some of the efforts by the United States government to combat global corruption while safeguarding public assets by returning them to the country of origin.
As one of the rising Brazilian lawyers, Bruno Fagali graduated with a law degree with a specialty in administrative law from the Pontifical Catholic University of São Paulo in 2009. At the University of São Paulo, he attained his masters in Progress in State Law. He has worked with numerous law firms gaining valuable experience on the way, for example, Radi, Calil and Associados advocacia, and Firm, Tojal, Teixeira Ferreira, Serrano & Renault Advogados Associados among others.
He founded Fagali Law in 2014, a firm that is focused on litigation, compliance and public law. Bruno Fagali is a highly rated corporate integrity expert counsel who is recognized for his efforts in Brazil’s public contracts cleansing. He also works as the corporate manager of NOVA/SB, an advertising firm in Brazil with numerous government public contracts. He leads transparency drives and integrity campaigns against devious contracts. His integrity drive efforts have been fruitful as the government has started transparency programs aimed at gaining back public trust.