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Friday 22 August 2014

Criminal Assets Bureau to sell Rolex watch on eBay

Denise Calnan

Published 09/04/2014 | 18:02

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This is the watch that CAB will be selling online from tomorrow afternoon

The Criminal Assets Bureau will be auctioning this Rolex watch on eBay from tomorrow afternoon.

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It isn’t unusual for the CAB to auction seized assets in auction houses, but this is just their second time selling the proceeds of crime on eBay.

The watch is a Rolex Cosmograph Daytona made of steel and yellow gold. This particular brand of watch can sell for up to €10,000.

The proceeds of the sale will go back to the Exchequer.

Commenting on the CAB Annual Report today, Justice Minister Shatter said; “Again we see the considerable powers of the Criminal Assets Bureau being brought to bear on those who seek to live off the ill-gotten gains of criminal activity. 

“Arising from actions taken by the Bureau across the jurisdiction and abroad in excess of €7.2 million was returned to the Exchequer in 2012.”

This included over €4.8m returned under the Proceeds of Crime legislation, over€1.9m returned using appropriate Revenue provisions and €393,797 recovered under Social Welfare provisions.

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