Mexico to auction Lamborghini, other seized assets to help poor
22 May 2019

Mexico’s government will auction a Lamborghini, homes and other assets seized from gangsters and at least one former politician, officials said on Tuesday, part of a “Robin Hood” program to use millions of dollars in ill-gotten gains to aid the poor.

The first auction, set for Sunday, will seek bids for 77 vehicles with a total starting price of around $1.5 million, Ricardo Rodriguez, head of the newly created Institute to Return Stolen Goods to the People, said at a news conference.

“Before, this worked like a reverse Robin Hood … taking from the people and giving to the corrupt. Not anymore,” Rodriguez said.

The proceeds will go to two municipalities in the southern state of Oaxaca, which President Andres Manuel Lopez Obrador said are among the poorest in the country. The vehicles up for auction include Porsches, Corvettes, Mercedes-Benzes, a Mustang convertible and a 2007 Lamborghini Murcielago.

A 2017 report by the Organisation for Economic Cooperation and Development noted that recent studies estimated Mexico lost between 5% and 9% of its gross domestic product (GDP) to corruption annually.

By Daina Beth Solomon, Reuters, 21 May 2019

Read more at Reuters

Photo: Mike Babcock [CC BY 2.0], via Wikimedia Commons

Read more:

Mexico to go after all narco judges: official

Mexico to launch criminal probe into Odebrecht: attorney general

Mexico freezes university funds, talks of money laundering

Advance your CPD minutes for this content, by signing up and using the CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.