Written by Lisa Murimi
The Assets Recovery Agency (ARA) has announced a public auction of vehicles, motorcycles, and other assets recovered through criminal investigations under the Proceeds of Crime and Money Laundering Act (POCAMLA).
In a public notice issued on Tuesday, June 3, ARA confirmed that the auction will take place on Wednesday, June 18, beginning at 10:00 a.m.
The items, which include vehicles and motorcycles, will be sold on an “as-is-where-is” basis.
ARA explained that the assets were identified, traced, and forfeited through court proceedings after being linked to criminal activities.
The agency, which works to combat money laundering and recover proceeds of crime, collaborates with licensed auctioneers to dispose of such properties.
Interested buyers are encouraged to inspect the listed assets between June 3 and June 13 at designated viewing sites listed in the official auction catalogue.
The auction will be conducted by M/s Keysian Auctioneers.
To participate, bidders must obtain a catalogue from the ARA offices at Old Mutual Towers, Nairobi, for a non-refundable fee of Ksh1,000.
Bidders must also deposit Ksh1,000,000 as a refundable auction deposit to receive a bidding number.
Successful bidders must pay 25% of the purchase price immediately at the fall of the hammer, with the remaining balance due within 14 days.
Failure to collect purchased assets within the same period will attract storage charges.
ARA reiterated its commitment to recovering illicit wealth and urged the public to participate in the transparent auction process.
