This paper looks at the use of proceeds of asset recovered from Sani Abacha, Vladimir Montesinos, and Ferdinand Marcos and their families. It will also briefly address a much more recent case involving Kazakhstan.

Repatriation of stolen monies makes available additional resources for development activities. The challenge is to ensure efficient, accountable and transparent use of such assets, given states may lack capacity or political will and that corruption may be prevalent at various levels of government.

Development efforts will remain frustrated so long as corrupt leaders continue to steal their countries' wealth and dispose of these ill-gotten gains in foreign jurisdictions. The prevention of such looting, and the recovery of the stolen assets are thus critical development issues and a cornerstone of the United Nations Convention against Corruption (2003) (UNCAC). However, to date experience with asset recovery is limited, and a number of legal and other obstacles continue to impede progress.

Swiss authorities have executed an extrajudicial agreement signed between Peru and Montesinos' frontman.

Peruvian authorities and Víctor Venero Garrido, the main frontman of former presidential advisor Vladimiro Montesinos, signed an out-of-court settlement to return approximately USD 15 million from Switzerland to Peru. The money comes from corrupt dealings during the 1990s and the case has lasted 17 years. This is the third and largest of the five accounts located in Switzerland whose assets will be returned to Peru.