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Wallace Defends Asset Forfeiture Reform

Wallace Defends Asset Forfeiture Reform

In a recent article in the Illinois Business Journal, HB partner Steven Wallace asserted that Illinois’ forfeiture laws need to be reformed. His article was a counterpoint to one written by Madison County’s State’s Attorney Thomas Gibbons, who argued that current laws are adequate.

Wallace briefly discussed the origins and purposes of asset seizure and forfeiture laws, then outlined how, over time, federal and state forfeiture laws have expanded. According to Wallace, one of the consequences of these expansions is that innocent third-party property owners frequently lose assets because existing laws lack adequate procedural protections. He notes that innocent owners have the “deck stacked against them,” in part because they are required to prove a negative. He advocates reforming Illinois’ forfeiture laws to better protect the due process rights of innocent parties. (To view the full article, click here.)

Wallace is a member of HB’s banking and financial services team. His legal experience and skills have been recognized by both the Super Lawyers and Leading Lawyers Networks, as well as the national Martindale-Hubbell AV Peer Review Rating System.