Luxembourg fund

Saturday 30 January 1993 00:02 GMT

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(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.

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