DR1 Daily News - Dominican Republic

The National Institute for the Custody and Administration of Seized and Abandoned Assets (Incabide) has announced its first-ever public auction of confiscated property, organized under the legal framework of Law No. 60-23. This inaugural event marks a significant milestone in the Dominican Republic’s management of assets recovered from criminal activities, including illicit drug trafficking, money laundering, and administrative corruption.

The auction features a diverse portfolio of high-value items, including real estate (apartments, houses and vacant lots), transportation (luxury vehicles, yachts and aircraft), and valuables (jewelry, scrap metal).

The executive director of Incabide, Manuel Oviedo Estrada, characterized the process as a democratic opportunity for citizen investment. He emphasized that the auction transforms assets once tied to illegal acts into useful...