Forfeited Pogo Bugattis Fetch P205m In Public Auction

Forfeited Pogo Bugattis Fetch P205m In Public Auction

By Bing Jabadan – TheNationWeek.com | July 31, 2026

MANILA — The Bureau of Customs (BOC) has completed the sale of two high-value Bugatti Chiron vehicles seized from errant Philippine Offshore Gaming Operator (POGO) assets, raising a total of P205 million to fund critical government programs.

Finance Secretary Frederick Go and Customs Commissioner Ariel Nepomuceno formally turned over the vehicles to buyer Elite Garage Corporation, concluding a series of bidding rounds that adjusted from an initial higher valuation to the final agreed amount—an outcome officials confirmed followed fully transparent procedures.

“Idle assets depreciate rapidly; we must convert them into public revenue without delay,” Go stated, emphasizing the administration’s policy of unlocking seized properties to generate tangible value for the nation. The full proceeds have been remitted to the Bureau of the Treasury, which will allocate the funds across priority government projects.

Treasurer Sharon Almanza noted the infusion is timely amid ongoing fiscal pressures: “This provides substantial support for our programs and services, especially as we address pressing national needs.”

Commissioner Nepomuceno confirmed the vehicles were traced to POGO operators found to have improperly imported the units without complete documentation or lawful payment of dues. The individuals involved remain at large, with corresponding legal cases already filed.

The transaction forms part of a broader initiative to dispose of hundreds of unreleased assets held by the bureau. Nepomuceno disclosed that over 200 additional vehicles valued at more than half a billion pesos are lined up for disposition in the coming months, as part of intensified efforts to recover public value from ill-gotten or improperly imported property.

The sale underscores a stricter, results-driven approach to POGO regulation and asset recovery: ensuring that proceeds from seized properties ultimately serve the public interest, rather than remaining idle or benefiting those who circumvent the law.

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