Va.- Gilmore's convicted Finance Secretary Forbes owes state $4 Million

[underpants]

Forbes fraud money likely difficult to recover

http://www2.timesdispatch.com/news/2010/dec/05/frau05-ar-695472/

Forbes, 54, owes $4 million to the state commission he defrauded while serving as secretary of finance to then-Gov. Jim Gilmore in 2001, but most of the money is gone and he's begun serving a 10-year prison sentence.

The few assets available fall far short of what Forbes owes the Virginia Tobacco Indemnification and Community Revitalization Commission.

Restitution was supposed to become easier for victims of fraud and other crimes under a law adopted by Congress in 1996, but while the Mandatory Victims Restitution Act demanded full compensation for losses, the result has been hundreds of millions of dollars more in recovery orders that are difficult to collect.

Federal prosecutors said last week that an FBI agent couldn't find potential sources of restitution beyond Forbes' house in Chesterfield County, mutual funds and life insurance policies, and a retirement account from a job he held at SunTrust Bank before his arrest this year.

"The government was unable to locate any additional assets to satisfy the uncollected portion of the money judgment," Assistant U.S. Attorney Laura Colombell Marshall said in asking that the SunTrust account be added to previous orders of forfeiture approved by U.S. District Judge Henry E. Hudson.