Manila: The Bureau of Customs (BOC) under the Department of Finance (DOF) has transferred over PHP205 million to the Bureau of Treasury, following the negotiated sale of two forfeited Bugatti Chiron vehicles. Finance Secretary Frederick Go and Customs Commissioner Ariel Nepomuceno led the turnover of the proceeds to the national coffers, marking a significant step in converting seized assets into public funds.

According to Philippines News Agency, the proceeds came from selling a 2017 Blue Bugatti Chiron and a 2019 Red Bugatti Chiron, valued at PHP101,508,000 and PHP103,508,000 respectively, to Elite Garage Corporation. These luxury vehicles were confiscated from Philippine Offshore Gaming Operators (POGO) after numerous failed public auctions and a negotiated sale with no offeror.

Nepomuceno emphasized that the sale of these vehicles transforms idle forfeited assets into public revenue while reducing government expenses on storage and maintenance. He highlighted the importance of converting confiscated smuggled goods into funds for public projects, underscoring the role of transparency and accountability in government operations.

The BOC chief stated that the funds will support government projects, such as school construction and healthcare services. Additionally, he reported that the sale of luxury vehicles linked to the Discaya couple and others confiscated from POGO firms has generated a total of PHP340 million. With 200 more vehicles set for auction, the government anticipates raising an additional PHP500 million.

Finance Secretary Go expressed satisfaction with the completion of the vehicle sales, which took nearly two years. He assured that the revenue generated would be allocated effectively for education, health, and infrastructure, reinforcing fiscal discipline within the government.

Go also directed the DOF and BOC to expedite the disposal of other confiscated items to maximize revenue generation for public benefit.