2223

Seizure of Certificates of Deposit

Immediately following seizure of a certificate of deposit, the seizing agency should notify the bank that issued the certificate of deposit (CD) that it has been seized for forfeiture and instruct the bank officials to take whatever steps are necessary to freeze the funds covered by the certificate so the CD will be negotiable by the Marshals Service after forfeiture. The Marshals Service will take appropriate action, in accordance with established procedures, to liquidate the CD after forfeiture. [cited in USAM 9-111.600]