Government auctions off 21 million baht worth of criminal assets

[webfact]

 

By Erich Parpart

 

An auction of 21 million baht worth of seized assets from convicted drug criminals caused a buzz on Monday. 

 

The Ministry of Justice said the 192 auctioned items were parts of thousands of items worth 3.2 billion baht that were confiscated by the Narcotics Control Board (NCB) from October until present. Not all confiscated assets are appropriate for auctions, the government agency said. 

 

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“Our main target is to seize assets and expand the investigation to arrest the entire network,” said the Justice Minister, Somsak Thepsuthin. “The target is 10 billion baht since we have already confiscated more than three billion baht so far.”

 

Full story: https://www.thaienquirer.com/39646/government-auctions-off-21-million-baht-worth-of-criminal-assets/

 

-- © Copyright Thai Enquirer 2022-04-26

 

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[alyx]

Hum...the real news would have been...Government WILL auction (with a proper date ) ???? 

[RandiRona]

44 minutes ago, webfact said:

Not all confiscated assets are appropriate for auctions, the government agency said

We have distributed these inappropriate assets like Dildos, blow dolls amongst agencies to verify the effectiveness of these assets, once validated that they are of safe size they will be in public domain!!

[Jerno]

Not appropriate because reserved for give away to

Generals and Pray...hoots buddies.

[Hayduke]

1 hour ago, webfact said:

“Our main target is to seize assets and expand the investigation to arrest the entire network,” said the Justice Minister, Somsak Thepsuthin.

 

The Justice Minister himself proved to be a savvy, uber-shrewd shopper as he scooped up a rare 2004 Maserati MC12 Corsa for a budget price of 9,995 Baht......auction records indicate he was the only bidder.

 

 

Edited April 25, 2022 by Hayduke

[ezzra]

2 hours ago, webfact said:

Not all confiscated assets are appropriate for auctions, the government agency said. 

So 21 millions makes like 7-8% of the total sum of confiscated loot right?... Let's just say that transparency and accountability is NOT the Thai government's forte...

 

Edited April 25, 2022 by ezzra

[BryanUk]

Once Pattaya recovers I’m buying a Porsche like that! 

[zzaa09]

And in the end.....where might this accumulated auction cash be going and how will it be used?????????

 

Don't expect any such follow up stories or research.

[Crossy]

2 hours ago, ezzra said:

Let's just say that transparency and accountability is NOT the Thai government's forte...

 

But it is, you can see right through it! It doesn't come more transparent than that

[hotchilli]

4 hours ago, webfact said:

The Ministry of Justice said the 192 auctioned items were parts of thousands of items worth 3.2 billion baht that were confiscated by the Narcotics Control Board (NCB) from October until present. Not all confiscated assets are appropriate for auctions, the government agency said.

Some are already spoken for?

[hotchilli]

2 hours ago, BryanUk said:

Once Pattaya recovers I’m buying a Porsche like that! 

Hello honey, I've got a Porsche.

[RichardColeman]

Wonder how many bids get blocked as the item is 'reserved' for other lower bidders ?

[Thailand]

All the watches seized had already been allocated to a private bidder.

[IAMHERE]

2 hours ago, ezzra said:

So 21 millions makes like 7-8% of the total sum of confiscated loot right?... Let's just say that transparency and accountability is NOT the Thai government's forte...

 

Yes, by Thai math principles. Elsewhere 21 million out of 3 billion gives a different result.  ????

[JoePai]

The Pointer : Look the thieving sods even nicked the engine

[Mr Meeseeks]

5 hours ago, BryanUk said:

Once Pattaya recovers I’m buying a Porsche like that! 

I've already got one except it is a Cayman S, not a Taycan. 

[mtls2005]

7 hours ago, webfact said:

“The target is 10 billion baht since we have already confiscated more than three billion baht so far.”

 

Note that the commission paid is 45% (seen 40% published as well as well as 55%, so not a lot of transparency on this perk) of the auction proceeds to the policeman.

 

Presumably this gets shared laterally, and vertically upwards.

 

This is how joe ferrari accumulated his massive wealth.

 

So you can understand how the police are motivated. 4.5 BILLION Baht is definitely not chump change.

 

 

 

 

[RafPinto]

16 minutes ago, Mr Meeseeks said:

I've already got one except it is a Cayman S, not a Taycan. 

Now I know it's yours.
I was wondering if this beauty belongs to an ASEAN NOW member.

[tingtong]

21 million?

Are they auctioning a dead man's watch collection?

Or Joe Ferrari's namesake ride?

 

[Burma Bill]

6 hours ago, hotchilli said:

Some are already spoken for?

like expensive watches????