The Assets Recovery Agency has announced the mass action of assets forfeited to the authority.
In a notice published on MyGov on Tuesday, February 25, the Agency said it will auction assets, including cars and motorcycles, that were recovered under the provisions of the Proceeds of Crime and Money Laundering Act.
The Agency has appointed Keysian Auctioneers to lead the sale of the assets that are set to go up for sale next month.
The Agency in its notice, said the assets are to be auctioned on an "as-is-where-is" basis Thursday, March 13, 2025, starting at 10.00am.
According to the notice, those interested in purchasing the items must pay a deposit of Ksh100,000 to obtain a bidding number for motor vehicles and Ksh10,000 for motorcycles.
The Assets Recovery Agency (ARA) is a government body with the primary mandate of combating money laundering, terrorist financing, and proliferation financing by identifying, tracing, freezing, seizing, and confiscating proceeds of crime.
The ARA targets various types of property suspected to be proceeds of crime.
This includes, but is not limited to, cash, real estate, motor vehicles, and other assets acquired through illicit activities.
The agency has the authority to initiate investigations and, upon obtaining preservation orders from the court, can seize such assets to prevent their dissipation before formal forfeiture proceedings commence.
“The items, arranged in lots, can be viewed from Wednesday, February 26, 2025, to Wednesday, March 12, 2025, at various locations as indicated in the auction catalogue, from 9:00 am to 3:00 pm,” ARA stated.
A successful bidder will be required to pay a deposit of 25 per cent of the purchase price at the fall of the hammer as part of the auction conditions. The auction deposit shall be treated as part of the payment for the successful bidder.
Furthermore, the successful bidder must pay the remaining 75 per cent of the purchase price within 14 days after the public auction to the Criminal Assets Recovery Fund Account.
“The purchased motor vehicles and motorcycles must be collected from the respective yards within fourteen (14) days after the public auction. Failure to do so will incur storage charges at the prevailing rates, which will be borne by the successful bidder,” ARA stated in its notice.
