Seized yachts – The daily blog of behavioral and cognitive economics

Why the U.S. Budget Includes a Super-Yacht

Last week, as it sidestepped a budget crisis, the Congress focused on government spending. But I suspect no one considered the millions spent on seized yachts. Having spent too much on seized thoroughbred horses, the U.S. government tells its agents, “If it eats, don’t seize it.” They should have added yachts. The Story. Our story starts in 2022 when Fiji seized the Amadea for the U.S. Owned by a Russian oligarch, the yacht was docked when Fiji obtained a “domestic seizure warrant.” Then, after a slew of legalities, managed by the U.S. task force called KleptoCapture (really), the boat sailed to San Diego flying a U.S. flag. ….[READ]