Wednesday 28 January 2015

Criminal Assets Bureau to sell Rolex watch on eBay

Published 09/04/2014 | 18:02

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.

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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