The Criminal Assets Bureau are auctioning a Rolex watch on eBay, with the sale sanctioned by the Court appointed Receiver.
The ladies Rolex watch, which was seized in 2011 from a known Limerick crime figure, was bought for his partner as a Xmas gift.
The Criminal Assets Bureau state that they are using this sales method purely as an experiment, possibly with a view to future selling of other traceable assets seized from criminals. If successful via this sales route, it could be the first of many such auctions, heading down the line.
Bidding for this watch started at €6,000 and all proceeds from this and future sales will go into the coffers of the Department of Finance.
The seller’s name used on eBay is Proceedsofcrimeact1996 and this current item now goes on sale following an application under the Proceeds of Crime Act, 1997 and 2005.
Suppose it is only right and proper since criminals worldwide have been using similar online methods themselves for years.
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