$900K recovered in proceeds of crime from convicted businessman Feroz Jan Mohammed

FICAC has recovered $900,000 from $1.2 million in proceeds of crime linked to the conviction of Feroz Jan Mohammed in 2015.

Mohammed was sentenced to eight years imprisonment with a minimum of five years on 24th June, 2015 after being found guilty of one count of bribery of public official, one count of perverting the cause of justice and one count of obtaining a financial advantage amounting to $3 million from the then Department of National Roads.

FICAC says following his conviction, Mohammed filed an appeal while FICAC simultaneously pursued a conviction-based forfeiture application under the Proceeds of Crime Act.

On 9 March 2023, Mohammed and relevant interested parties entered into a Settlement Agreement, whereby he, through those parties, agreed to pay the sum of $1.2 million in lieu of forfeiture of certain identified assets.

FICAC says to date, $900,000 has been deposited into the Forfeited Assets Fund in accordance with sections 71A–71E of the Proceeds of Crime Act.

The remaining $300,000 is expected to be paid by mid-year, following a request for an extension by Mohammed’s legal representatives and the interested parties.

They says this settlement represents a significant step in recovering proceeds obtained through corrupt means, reaffirming their commitment to holding individuals accountable for abusing public trust.

FICAC underscores that corruption entails not only criminal liability but also significant financial consequences, whereby unlawfully obtained assets are systematically identified, restrained, and recovered to serve the public interest.

They further say the recovery of $1.2 million sends a strong message that no individual is beyond the reach of the law.