1990 AGN DEC 18 I04 - Laserfiche WebLink

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CITY OF COLTON AGENDA REPORT For Council Meeting of December I A, 1990 TO: Honorable Mayor and City Council FROM: PAUL J. CONNOLLY, CHIEF OF POLICE Date: SUBJECT: CONTRACT FOR FINANCIAL INVESTIGATIONS 12-11-90 RELATING TO ASSET SEIZURES BACKGROUND The Colton Police Department's diligent efforts to effectively impact the narcotic dealer financially through asset seizure is hampered by its inabilities to conduct indepth financial audits. Asset seizure audits are highly specialized and labor is intensive beyond the means of the Police Department. This results in a loss of revenue to the agency and allows the narcotic dealers funds to continue their illegal business. STATEMENT OF THE PROBLEM Narcotic dealers are becoming much more sophisticated in their ability to hide their economic worth by purchasing homes, property, vehicles, or by making other types of financial investments. Because of this, it makes it extremely difficult to find and ultimately prove that these assets were obtained through illegal means, i.e., narcotics dealings. The investigations into these financial transactions are extremely difficult and timely and also require expertise in accounting with specialization in the asset forfeiture field. The inability to discover these hidden assets leaves a major stone unturned in the department's fight against narcotic sales. Presently these investigations are beyond the capabilities of the Police Department considering specific training and available manpower. Undiscovered assets are being lost to the narcotic dealer which could successfully be seized and awarded to the department. The Police Department would be forced to continue to conduct financial investigations which oftentimes does not disclose additional assets. Attachments: Page 1 of --2- — Item No.