After Bitcoin Seizure, FBI Takes Into Custody Safety Deposit Boxes Carrying $86M, Aggrieved Alleges Power Abuse

Wielding too much power end up being an abuse of power. This is what the Federal Bureau of Inspection (FBI) in the US is currently going through as it has taken raided at Beverly Hills and took into custody safety deposit boxes carrying approximately US$ 86 Million which is comprised of fiat and precious metals and jewelry. Aggrieved persons counsels have raised allegations of “misuse and abuse of power” against the FBI and that no proof or evidence whatsoever was provided to the owners of the boxes.

It is usually said that wielding too much power has consequences and is a cause of corruption. However, when someone is given absolute power then the chances of such power being misused and abused are absolute.

FBI was appreciated by all in the US when the agency seized proceeds of a crypto-related crime caused upon Colonial Pipelines. Thereafter a debate started in the US that law enforcement agencies should be provided with more power to prevent crypto crimes. For instance, the Office of the US Attorney General said that the recapturing of crime proceeds is a landmark achievement. It was suggested that the surveillance which was allegedly used by the FBI was to be made accessible to other agencies.

Even in the UK, Scotland Yard is proposing the British Government grant it the power to freeze crypto funds lying in digital wallets. The investigating agency believes that with the power in hand, it will become more effective in the prevention of crypto-related crimes. However, no one in the world would have imagined that what if this power was being abused as well as misused by the agencies themselves.

In its recent attempt to find a trace of a crime, the FBI raided Beverly Hills where it is known to all that private vaults are installed. These vaults belong to private individuals who are most influential and are businessmen.

It was reported that a search and seizure warrant was obtained from the office of the Magistrate in California by the FBI. FBI told the Magistrate that the FBI firmly believes that the vaults are hiding money that had been laundered and is part of a crime. The Magistrate only allowed FIB to only that equipment that is business-related. However, the Office of the Magistrate specifically denied FBI the access to safety deposit boxes and the items contained therein.

However, when the FBI reached the vaults, it not only searched the business-related equipment but also called for safety deposit boxes. The officials of the vault, who were present, tried to convince the FBI agents that the warrant debars them from accessing deposit boxes. On the contrary, the FBI booked the security deposit boxes under the “seized goods” and then took them away. As per Beverly Hills, the seized boxes contained items such as cash, valuable goods, precious metals, and jewelry.

It took only a day for the owners of the boxes to respond to the actions of the FBI. At least 11 lawsuits have been filed before the US Courts and against the FBI. The attorneys of the aggrieved persons have claimed that the FBI has acted illegally and unlawfully. They have claimed that the FBI has in fact misused and abused its authority by acting in total violation of the warrant as well. The attorneys argued that no evidence whatsoever was provided before or at the time of the raid by the FBI. Such an action is in violation of the law and the American Constitution. The money is in fact been stolen by no ordinary thieves but by the Federal Bureau itself, alleged attorneys of the aggrieved.