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The Government of Mexico will auction property confiscated from drug trafficking

The Government of Mexico will auction next Sunday June 23 about thirty properties, many of them confiscated from organized crime, with which it expects to raise 168.4 million pesos (about 8.8 million dollars) to help poor communities.

Next Sunday will be auctioned “land and housing, which is going to spend what is obtained for poor municipalities of the mountain of Guerrero (southern Mexico),” said Monday Mexican President, Andrés Manuel López Obrador, from the Palace National.

Ricardo Rodríguez Vargas, general director of the Service of Administration and Disposal of Assets (SAE) of the Ministry of Finance and Public Credit (SHCP), explained that they expect to raise about 8.8 million dollars with about 27 properties in bankruptcy.

The auction is divided into two blocks. The first includes 15 properties -from ranches in central Mexico to luxurious homes in the tourist resort of Los Cabos- considered “abandoned”.

“They are real estate of high value and reason for various judicial processes.
In particular, above all, organized crime and crimes against health (drug trafficking), “said the head of the SAE.

The second block includes 12 assets, one of them in a “confiscation” situation and the other 11 in “domain extinction”, that is, in the middle of a process through which the State pursues the goods of illegal origin or destination through of a judicial way.

The money collected in the sale of these properties will be used by the Judicial Branch, the General Prosecutor’s Office of the Republic (FGR), the Ministry of Health (SS) and a fund for victim assistance.

Rodríguez Vargas stressed that the “Los Tres García” Ranch will be auctioned, with a base sale price of 32 million pesos (about 1.7 million dollars).

According to local media, it is a majestic ranch that had belonged to a relative of the capo arrested in 2010 Edgar Valdez Villarreal, La Barbie.

At the end of February an auction of around 200 official vehicles was held to finance the National Guard.

In May, it was the turn of the luxury cars that had been confiscated, a contest that took place in the former presidential residence of Los Pinos.

After the June 23 auction of real estate, another contest has been planned, in this case jewelery, which was also seized by the Attorney General’s Office. (EFE) .-

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