An Garda Síochána Auctions €2 Million Gold Bullion Seizure
An online auction of gold bullion seized by An Garda Síochána commenced on Friday, April 17, 2026, at 1:00pm. The auction, facilitated by Wilsons Auctions, features 48 lots of gold bars and coins recovered as part of a major investigation into organised criminal activity in the Dublin Metropolitan Region (DMR). Bidding remains open to the public until 1:00pm on Monday, April 20, 2026, with net proceeds destined for the national Exchequer.
Background of the Seizure
The gold, totalling 18.8 kilograms, represents the largest seizure of its kind in the history of the Irish State. It was seized by the Dublin Crime Response Team under the Proceeds of Crime Act during investigations that likewise uncovered over 2kg of cocaine and ecstasy, and more than €400,000 in cash. The bullion, valued at approximately €1.3 million, was found in safety deposit boxes linked to a criminal money-laundering operation.
Two women, Svethana Bahtijeva and her mother Jelene Idele, were identified as key holders of the safety boxes and received prison sentences of four and five years respectively. A third suspect, a man originally from Kazakhstan, remains at large and is still being sought by gardaí.
Auction Details
The auction includes various forms of gold, such as Argor Heraeus and Valcambi bars, as well as 1oz Krugerrand coins. Current bids include €1,025 for Lot 4 (a 100g Argor Heraeus Gold Bar) and €1,700 for Lot 7 (a 250g Valcambi Gold Bar), both confirmed as 999.9 fineness. One-ounce Krugerrand coins are attracting bids of €100.
According to Detective Inspector Ken Holohan of the Dublin Metropolitan Region, the auction forms part of An Garda Síochána’s strategy to disrupt organised crime by removing its financial benefits. “Recovering and returning the proceeds of crime is a key part of disrupting organised criminal activity. This auction ensures that seized assets are processed transparently, with all funds ultimately going back to the State where they belong,” he stated.
The auction is being conducted exclusively online via Wilsons Auctions, where interested bidders can register and view the full catalogue. All net proceeds from the sale will be returned to the Irish Exchequer.
Investigation Outcomes
In addition to the gold seizure, the operation led to the confiscation of significant quantities of illicit substances and cash. Authorities confirmed that over €399,000 in cash was recovered alongside the initial bullion haul, with a further €58,000 found in a lunch box during a follow-up search. The mother’s residence in Leopardstown yielded three safes containing 2.6kg of cocaine (valued at €187,000) and €26,000 worth of MDMA.
The court accepted that the primary orchestrator of the operation — the Kazakh national — was not present during proceedings and may never be apprehended due to his departure from the country.
Conclusion
This auction marks a significant milestone in Ireland’s efforts to combat organised crime through asset recovery. By transforming seized criminal assets into state revenue via transparent public sale, An Garda Síochána reinforces its commitment to dismantling the financial infrastructure of illegal enterprises. The auction closes at 1:00pm on Monday, April 20, 2026, offering the public a final opportunity to participate in the sale of this historic gold seizure.