Mexico to auction off seized luxury goods to help poor

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MEXICO CITY, MEXICO – JULY 05: President-elect of Mexico, Andres Manuel Lopez Obrador, gestures during a press conference to announce Marcelo Ebrard’s appointment as Minister of Foreign Affairs at Salon D’Luz on July 5, 2018 in Mexico City, Mexico. (Photo by Manuel Velasquez/Getty Images)

MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador hasn’t just moved out of the luxurious president’s residence, he’s using it to auction off seized luxury goods to raise money for poor communities.

López Obrador stayed in his middle-class condominium and turned the Los Pinos residence into a museum and cultural venue.

But on Sunday, the sprawling compound will host the first of several auctions of seized luxury goods, including a 2007 Lamborghini Murcielago, with an estimated worth about $73,000. If that’s too expensive, there is a 2014 Mercedes Benz ML63 at about $20,000. Proceeds will go to Mexico’s two poorest townships, in Oaxaca state.

López Obrador’s new Institute to Return Stolen Goods to the People will continue with auctions of real estate and jewelry, most confiscated from criminals or in tax cases.

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