Assets Recovery Agency to Auction Forfeited Cars and Motorcycles

The Assets Recovery Agency (ARA) has announced a public auction of various assets, including motor vehicles and motorcycles, that were forfeited to the government. The sale is scheduled to take place next month.

In a notice published in MyGov on Tuesday, February 25, ARA stated that the auction will include assets recovered under the Proceeds of Crime and Money Laundering Act. The agency has appointed Keysian Auctioneers to oversee the sale, which will be conducted on an “as-is-where-is” basis.

The auction is set for Thursday, March 13, 2025, starting at 10:00 am. Those interested in participating must first pay a deposit of Ksh 100,000 to obtain a bidding number for motor vehicles, while those looking to bid for motorcycles must deposit Ksh 10,000.

Role of the Assets Recovery Agency

The Assets Recovery Agency is a government institution responsible for fighting money laundering, terrorist financing, and other financial crimes. Its mandate includes identifying, tracing, freezing, and ultimately confiscating assets acquired through illegal activities. The agency deals with various types of properties suspected to be proceeds of crime, such as cash, real estate, vehicles, and other assets.

Once ARA identifies and obtains a court order to preserve such assets, it ensures they are not sold or transferred before the final forfeiture process is completed.

Auction Details and Viewing Period

The notice from ARA specifies that the items up for auction will be available for public viewing from Wednesday, February 26, 2025, to Wednesday, March 12, 2025. Interested buyers can inspect the vehicles and motorcycles at designated locations between 9:00 am and 3:00 pm as listed in the auction catalogue.

To secure an item during the auction, successful bidders must pay 25% of the purchase price immediately after winning the bid. This deposit will be deducted from the total amount owed. The remaining 75% of the payment must be completed within 14 days of the auction. Payments should be made to the Criminal Assets Recovery Fund Account.

Additionally, buyers must collect their purchased vehicles and motorcycles within 14 days after the auction. Failure to do so will result in storage charges being applied at the prevailing rates, and these costs will be borne by the buyer.

This auction provides an opportunity for individuals to legally purchase vehicles and motorcycles at competitive prices while ensuring that assets obtained through illicit means are recovered by the government.

Join Gen Z official Whatsapp Channel To Stay Updated On time the ongoing situation https://whatsapp.com/channel/0029VaWT5gSGufImU8R0DO30