Luxury goods like Mercedes vehicles, Hermes handbags, Gucci shoes and a gold iPhone were offered without reserve prices at an auction in Newport. A majority of the lots were seized from a crime couple Ahsan and Nafeesa Shahid. The auction raised more than £100,000.
The couple from Scotland got the money by making fraudulent telephone calls. Victims were informed that their bank accounts had been compromised and they should transfer money to a safe account — the couple's bank account.
The crime couple were charged with fraud and money laundering
More than £250,000 was transferred to the couple's account and mostly spent on their extravagant lifestyle. The pair were arrested in 2015 and charged with fraud and money laundering. Their luxury goods were seized under the Proceeds of Crime Act.
Luxury items including brands like Hermes, Cartier, LV, Gucci, Rolex, Prada and Christian Louboutin were offered without reserved prices, drawing hundreds of bargain hunters flocking to the auction.
A Jacob & Co. watch with a retail price of £20,000 sold for only £2,750 whereas a Range Rover was bought for £16,500.
Most of the 113 lots were sold and totalled more than £100,000. Money raised in the auction will be funnelled back into the public purse.