The gardaí gold bullion auction has opened on gold valued at €1. 4 million that was seized during intelligence-led searches in Dublin in 2024. The online sale began at 1pm ET on Friday and is set to close at 1pm ET on Monday, with bids accepted only from members of the public who register and provide proof of identity. The proceeds will go back to the State.
What Is Being Sold And Why It Matters
The gardaí gold bullion auction covers bullion taken from a Kazakhstani drugs gang that was operating in Ireland. The gold was seized by the Dublin Crime Response Team during searches in September 2024 at locations in Lucan, Dundrum and Ballsbridge, all in Dublin.
Along with the gold, gardaí found €460, 000 in cash and cocaine and ecstasy valued at about €210, 000. The gold bars and coins weighed 18kg and were discovered at a business premises, while the drugs were found during a search of a residential property. The items being sold are available for viewing on the auction company’s website.
Inside The Case Behind The Auction
The chief suspect, Farhats Bahtijevs, then aged 55 and living in Lucan, was arrested and appeared in court in 2024. He faced three charges of money laundering, three charges relating to false documents found by gardaí, and four separate charges of possessing ecstasy and cocaine, including for sale or supply.
Bahtijevs told gardaí he took responsibility for the drugs. He said the gold and other items, including identity and authenticity documents and bank cards, were in safety deposit boxes and safes controlled by his wife and her mother, both from Latvia, and that they had registered the boxes at his direction. He was later granted bail, mainly to care for the two children he had with his wife.
Immediate Reaction From Gardaí
Det Insp Ken Holohan said: “Recovering and returning the proceeds of crime is a key part of disrupting organised criminal activity. ” He added that the gardaí gold bullion auction ensures seized assets are processed transparently, with all funds ultimately going back to the State where they belong.
That approach reflects the wider practice of selling seized property publicly, with auctions used as a fast and effective way to secure the highest price possible. Garda sources pointed out that public auctions are also the most open sale process available to the force.
What Happens Next
Registration remains open for those who want to bid, but only online bids will be accepted before the gardaí gold bullion auction closes at 1pm ET on Monday. The sale is being run on behalf of the Garda, and the net proceeds will be returned to the State once it is completed.
The case also remains active in the background: the main player in the gang has absconded after being bailed and is still on the run despite facing 10 charges in the Republic. For now, the gardaí gold bullion auction has become the public face of a broader effort to strip value from organised crime and send the money back where authorities say it belongs.
