FINANCE CHIEF LEADS IN TURNOVER OF ₱205 MILLION TO BTr

"The sale ensures assets under our stewardship generates value”— Secretary Go

On Aug 1, 2026

DEPARTMENT Of Finance Secretary Frederick Go (center) with Customs Commissioner Ariel F. Nepomuceno, holding the representative checks for ₱205.016 million turned over to the Bureau of Treasury the BOC raised from the disposal of two Bugatti super sports car seized in February 2024. Under Commissioner Nepomuceno, the BOC has thus far contributed ₱307.416 million to the national treasury from the legal disposal of seized vehicles (photo: BOC-PIAD).

DEPARTMENT Of Finance Secretary Frederick Go again took time off from his busy schedule to join Bureau of Customs Commissioner Ariel F. Nepomuceno in turning over to the Bureau of Treasury more than ₱205 million that Customs generated from the negotiated sale of two smuggled high-end luxury vehicles.

“After nearly two years, we have finally completed the sale of these forfeited vehicles, ensuring that every asset under our stewardship is properly managed and generates value for the Filipino people,” Secretary Go said, during the simple turnover ceremony at the Port of Manila on July 29.

Adding to the remittance last March 10 of ₱102.4 million from the disposal of the seized vehicles seized from the Discaya couple, the BOC has thus far remitted ₱307.416 million in additional revenue to the BTr from the auction and negotiated sales of forfeited high-end vehicles.

The Finance Chief was referring to the disposal of a 2017 Blue Bugatti Chiron and a 2019 Red Bugatti Chiron that were sold to Elite Garage Corporation. The 2017 model was sold for ₱101.508 million while the 2019 model was sold for ₱103.508 million, for a total of ₱205.016 million.

If not for the posts on social media…

The vehicles were smuggled into the country some three years ago and were subsequently seized and subjected to investigation thru the efforts of the Intelligence Group then headed by Deputy Commissioner Juvymax Uy and then Customs Intelligence Service (CIIS) Director Verne Enciso.

Around November 2023, the IG’s attention was drawn to social media posts showing the two high-end vehicles cruising the streets of Metro Manila, with the Blue Bugatti sporting the plate number NIM 5448 and the Red Bugatti, NIM 5450, according to the relevant press release of the BOC at the time.

Up to now, however, the BOC, has not disclosed the names of the “foreign nationals” who allegedly own the vehicles nor if anyone at Customs or the Land Transportation Office (LTO) that registered them, were questioned and punished.

The BOC noted that since the actual seizure of the vehicles in February 2024, there have been 5 failed public biddings held to dispose them and one failed negotiated sale only last February.

Last March 26, however, Elite Garage stepped forward and bought the vehicles at the agreed amount of ₱205.016 million, a sale that was subsequently approved by Secretary Go.

“The turnover of these forfeited assets shows that our work does not end with seizure or forfeiture,” Commissioner Nepomuceno said for his part.

“Ang tunay na layunin natin ay tiyakin na ang mga nakukumpiskang smuggled goods ay nare-recover at naco-convert into public funds para sa mga pampublikong proyekto. Through transparency, accountability, and teamwork among government agencies, we continue to protect what belongs to the Filipino people,” he added.

Adding to the remittance last March 10 of ₱102.4 million from the disposal of the seized vehicles seized from the Discaya couple (Pinoy Exposé, March 10, 2026), the BOC has thus far remitted ₱307.416 million in additional revenue to the BTr from the auction and negotiated sales of forfeited high-end vehicles.