Money laundering news 05/10/2008 eBay sells goods held under Proceeds of Crime Act 2002

Leicestershire police is the first in the UK to open an eBay online auction account to sell to the public goods which have been confiscated under the Proceeds of Crime Act 2002 (POCA) and associated money laundering offences.

Among items the force has recovered are a stable of vehicles including a 1964 Aston Martin DB4 Superleggera, BMW X5, BMW M3 SMG and numerous high priced luxury items such as 50-inch plasma screen TVs, Louis Vuitton designer hand bags and high-powered motorbikes.

In the past year, civil and criminal investigations have yielded hundreds of items worth over £3m, which were confiscated by Leicestershire police and courts under POCA. The new auction site seeks to recoup the value of the items, returning the funds to the Government, while retaining a percentage towards the running of Leicestershire Constabulary.

Acting Detective Inspector of the Leicestershire Constabulary Economic Crime Unit (ECU) Dharmendra Bhakta said, POCA empowers law enforcement agencies to seize property from alleged offenders. Those convicted and adjudged to have purchased goods with dirty money, are required to forfeit their ill-gotten gains.

Our intervention creates an opportunity for the public to bid to purchase high value goods at competitive prices, with profits going towards new crime-fighting initiatives.

The Leicestershire Constabulary ECU works systematically to dismantle organised crime groups across Leicester, Leicestershire and Rutland.

Proceeds of Crime Property Realisation Officer David Hargrave said, The public can buy with confidence. All items offered for sale on this site are legitimate pre-purchased goods only the method of purchase was corrupt.

No stolen or found property will knowingly be offered for sale on this site. The proceeds will go back into the public purse to benefit the community and fund future prosecutions.

Many police forces across the UK are using money which comes from the sale of confiscated goods and other assets seized from criminals under the Proceeds of Crime Act 2002 to fund community policing initiatives or employ more officers to combat money laundering.

News « POCA news - new eBay site sells Proceeds of Crime Act 2002 confiscated goods

Subscribe to News