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
Advance your CPD minutes for reading this article, by signing up and using the CPD WalletFREE CPD Wallet