In the United States, there are hundreds of regulations which authorize dozens federal agencies to confiscate private property– homes, cars, bank accounts, gold, company shares, and even personal effects.
Ironically, most Americans still think that they live in a country where you’re innocent until proven guilty. Nothing could be further from the truth, and it’s just another clear example of how the US Constitution has become a worthless piece of toilet paper for the federal government.
The Fifth Amendment states that “No person shall be… deprived of life, liberty, or property, without due process of law.” Tell that James Lieto, a New York businessman who was relieved of $392,000 when the armored car company used by his check-cashing firm was taken down by the FBI.
NOTE: Forfeitures have been in high gear since the mid 1980's. Most seizures at that time were in the $2,000 range, because it would cost more to retain an attorney than it would to walk away from the seizure. On doesn't have to be charged with any crime. The asset is stolen and you have to PROVE, at your expense, that you legally own the car, boat, plane, cash etc.
It's HUGE, abusive and the ENFORCEMENT agencies are allowed to participate and retain a portion of the spoils. One excellent reason for NEVER owning free and clear property. Keep everything hocked to the hilt.
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