Government announces first auction of assets seized from criminal networks

Santo Domingo.- The Dominican Republic will hold its first public auction of assets seized from criminal networks, including aircraft, yachts, real estate, vehicles, and jewelry. The initiative, led by the National Institute for the Custody and Administration of Seized and Confiscated Assets (INCABIDE), aims to convert illicitly obtained goods into funding for social programs, in line with current legislation.

Scheduled for May 13, the auction will feature assets linked to crimes such as drug trafficking, money laundering, and corruption. Interested participants must register in person by May 1 at INCABIDE’s headquarters in Arroyo Hondo Viejo, paying a non-refundable fee of RD$5,000. For high-value properties exceeding RD$5 million, a 10% deposit is required to participate in bidding.

Authorities emphasized that all assets have completed the legal process under Law 60-23, ensuring buyers receive clear ownership. Proceeds from the auction will be directed to prevention and social compensation programs. The event will take place at the Autonomous University of Santo Domingo, marking a milestone in the country’s efforts to promote transparency and reinvest recovered assets for public benefit.