Over £650,000 worth of repossessed gold bars to be sold at Wilsons Auctions
Managing the sale on behalf of the National Crime Agency (NCA), Wilsons Auctions will offer 15 gold bars to the public in December’s Online Luxury Auction. Seized under the Proceeds of Crime Act, a female smuggler transiting through Heathrow Airport, was highlighted to be trying to evade customs officials.
Managing the sale on behalf of the National Crime Agency (NCA), Wilsons Auctions will offer 15 gold bars to the public in December’s Online Luxury Auction.
Seized under the Proceeds of Crime Act, a female smuggler transiting through Heathrow Airport, was highlighted to be trying to evade customs officials.
After investigation by law enforcers and Border Force staff, it was clear that the gold was being carried on behalf of a money laundering network.
The gold bars were seized in March 2020 with an approximate value of £650,000, at the time of seizure. As the UK and Ireland’s largest independent auction company, Wilsons Auctions has been instructed to sell the gold with no reserve, meaning the Lots will be sold to the highest bidder.
Presented in a timed online auction, this auction will open on Thursday 15th December at 11am GMT. Registered bidders will have a 24-hour window of opportunity to bid online before the auction closes at 11am GMT on Friday 16th December. Bidding will be open to the public and will be online only.
Wilsons Auctions’ Government Contracts Manager, Mark Woods said, “We are delighted to be managing the sale of more high value assets on behalf of the NCA. Wilsons Auctions has been the contract provider for the disposal of assets seized under POCA for a number of years now.”
“With gold being an extremely popular means of global investment combined with the aspect of this gold being sold with no reserve, the auction being entirely online and open to participants across the world will make it will make it extremely convenient to bidders.” he concluded.
NCA Commander Andy Noyes said: “We think they [the money laundering network] were attempting to move the gold through London to try and disguise their routing, and avoid the attentions of Indian law enforcement upon arrival there.”
“Working with partners like Border Force we are determined to do all we can to disrupt the flow of illicit money coming through the UK.”
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Wilsons Auctions is a leading auction company with over 80 years of experience building skilled knowledge in an extensive variety of assets. The Asset Recovery Department works with 17 countries worldwide realising every type of asset from property to supercars, luxury watches and designer goods for government agencies, law enforcement agencies and insolvency practitioners.
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