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Mexico is auctioning $1.5million of cars to help the poor

Proceeds from sale of seized cars will go to the country’s poorest people

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The Mexican government is auctioning 77 cars - including a Lamborghini Murcielago, Porsches, Corvettes and Mercedes - as part of a “Robin Hood” effort to effectively return the proceeds of crime to the country’s poorest people.

Reuters reports this is the first of three sales that will be held by the newly created Institute to Return Stolen Goods to the People. The proceeds will go to two municipalities in the southern state of Oaxaca that the country’s President - Andres Manuel Lopez Obrador - says are among Mexico’s poorest.

The second sale deals with property and will benefit youth drug rehabilitation programs, while the third concerns jewelry, and will help communities living in the mountains of Guerrero state. The seized cars, houses and jewelry were seized from organised criminals and even a former politician.

In all, the 77 cars are set to fetch around $1.5million at the auction, which will take place this Sunday. So paddles at the ready, for there could be bargains about…

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