More than £650k worth of gold will go under the hammer this week after being seized from a smuggler.
A woman was spotted at Heathrow Airport trying to evade customs officials when she was found with 15 bars of gold. 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. Seized under the Proceeds of Crime Act, the gold bars will now be available to the public via Wilsons Auctions on behalf of the National Crime Agency (NCA).
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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. The auction will open on Thursday, December 15 at 11am.
Registered bidders will have a 24-hour window of opportunity to bid online before the auction closes at 11am GMT on Friday, December 16. 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."
NCA Commander Andy Noyes added: "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."
For more information about the auction, click here.
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