Luxembourg fund

Click to follow
The Independent Online
(First Edition)

LUXEMBOURG (AP) - The government announced that it had created a fund to hold money confiscated from narcotics traffickers and money launderers. The announcement followed an uproar caused last week when a Court of Appeals judge ruled that dollars 36m (pounds 24m) in alleged cocaine profits must be returned to its owners because of a loophole in Luxembourg's money-laundering law.