On Wednesday, Judge Ho denied the government’s motion for a cost bond pending appeal in a civil asset forfeiture case against defendant-in-rem the M/Y Amadea, a 348-foot luxury superyacht purportedly owned by a Russian national subject to economic sanctions. Since seizing the superyacht, the government has spent approximately $32 million on transportation, maintenance and storage, and now seeks bond for approximately $25 million in incurred taxable costs. In related proceedings, the claimants have appealed the forfeiture of the Amadea, and the government estimates that the appeal will take approximately one year and incur another $10 million in taxable costs.Continue Reading Judge Ho Exercises Discretion to Deny Government’s Bond for Seized Luxury Superyacht Upkeep Costs