“All of the Goods Confiscated by the Mafia Will Go To Serve the People,” Colombian President Gustavo Petro Auctions Off Narco-Ferraris To Raise Money for Social Programs

The Colombian government is auctioning off three Ferraris from a total of 30 vehicles that were confiscated from Juan José “Falcón” Valencia, who is accused of working as a financial analyst for the Clan de Golfo, the nation’s largest criminal organization.

Newly-elected Colombian President Gustavo Petro, a former revolutionary who is one of the most progressive presidents Colombia has had in years, has promised that “all of the goods confiscated by the mafia will go to serve the people,” reports Vice. “Mansions, cars, money, jewelry, gold, art and everything else we get [from the drug traffickers] will be used for social benefit,” he said.

After being arrested at his house for money laundering in May 2021, Valencia was extradited to the US in July of this year. He allegedly managed the money of Dario Antonio Úsuga “Otoniel,” the Boss of Clan de Golfo, who was also extradited to the United States earlier this year.

The auction for the three cars has already begun and the lowest starting bid is reportedly just over $40,000. The three Ferraris being auctioned off are a red 2020 812 Superfast, a silver 2019 488 Spider, and a white 2019 Ferrari Portofino. The winners will be announced on October 16.

However, El Tiempo reports that, because a federal judge made a mistake on Valencia’s file, most of the possessions seized by the government will be returned to him. This includes Valencia’s jewelry, a mansion, and the other 27 luxury cars that were seized.

When announcing his intention to use the money raised by the auction to benefit the public, Petro cited a similar approach by Mexican President Andrés Manuel López Obrador, who auctioned off a handful of mansions belonging to Joaquín “El Chapo” Guzmán and Amado Carrillo Fuentes.

“All of the money raised is going to be delivered to the people and help to buy (COVID-19) vaccines and medicines and to give away some scholarships,” Obrador said.