Ownership of Proceeds of Corruption in International Law [Hardcover]

In the first comprehensive study on the issue, Kolawole Olaniyan challenges the conventional notion that sovereign and ownership rights over proceeds of corruption should be exclusively exercised by States. He examines the relationship between the right to wealth and natural resources, proceeds of corruption, and economic activities.Recovery of proceeds deriving from corruption is now increasingly recognized as a principle of contemporary international law. However, people's sovereign and ownership rights over their wealth and natural resources have remained more theoretical than real, especially in the global fight against corruption. As a result, the populations of victim-states often cannot hold their governments accountable for misusing proceeds of corruption, and do not benefit from the recovery, repatriation, management, and use of returned proceeds. In the first comprehensive study on the issue, Kolawole Olaniyan challenges the conventional notion that sovereign and ownership rights over wealth and natural resources - and by extension, the proceeds of corruption - should beexclusivelyexercised by states.Olaniyan'sOwnership of Proceeds of Corruption in International Lawexamines the relationship between the right to wealth and natural resources, proceeds of corruption, and economic activities. Focusing on victims of corruption, the book argues that victim-states' populations ought to be empowered to pursue grand corruption and asset recovery actions against their governments. It proposes theoretical and legal remedies for recovering proceeds of corruption, encouraging the development of domestic laws.Part I: Conceptual Frameworks1. Introduction2. Concepts and Theories3. Links between Corruption in the Public Sector and Private SectorPart II: Legal and Institutional Frameworks4. International Legal Rules on Proceeds Deriving from Corruption and Main Legal Challenges5. Institutional Frameworks6. International Cooperation and AssistancePart III: lĢ