Changhua Executive Agency Auctions Helicopter; Taichung Auctions 296,000 USDT Same Day

Ministry of Justice Holds Joint Auction, Helicopters and Cryptocurrencies Up for Bid

The Ministry of Justice’s Administration Enforcement Agency held a nationwide joint auction on November 11, featuring a rare offering from its Changhua branch: two helicopters, the first to be auctioned in its 25-year history. Both aircraft failed to attract any bids and were subsequently delisted, with a new auction scheduled for December. Meanwhile, the Taichung branch auctioned over 296,902 USDT (Tether) seized by the Taichung District Prosecutors Office, valued at approximately NT$9.77 million. As of press time, no winning bid results had been announced.

Helicopters Fail to Take Flight at Auction

The Changhua branch’s auction included two helicopters: a U.S.-made Robinson R22 Beta II twin-seat model and a French-made Aerospatiale SA341G. The R22 had a starting bid of NT$2.1 million, while the SA341G, which also included partially dismantled components and airframe parts, began at NT$1.23 million.

Chen Hsing-min, head of the Changhua branch, noted that while the helicopters were the most anticipated items among the 13 branches participating nationwide, the lack of bids was disappointing. The helicopters are expected to be re-auctioned in December.

These helicopters were confiscated as part of a criminal case handled by the Nantou District Prosecutors Office. According to reports, the Nantou prosecutors investigated a Taiwanese businessman surnamed Liao in 2020 for violating civil aviation laws. The defendant allegedly claimed to be interested in aviation and assembled parts purchased from overseas websites. He was later apprehended for flying a helicopter without a license, leading to the aircraft’s confiscation. The original owner was suspected of illegal private flights, and the helicopters were subsequently ordered forfeited by the court.

The starting bids represented a significant discount compared to new aircraft prices. A new R22 twin-seat model typically costs around NT$10 million, making the NT$2.1 million starting bid approximately 20% of its new value. Chiu Shih-min, chairman of the Taiwan Aviation Association, commented that auction prices for helicopters are generally one to two-tenths of the new price. He also pointed out that Taiwan’s stringent helicopter regulations mean that even successful bidders might only be able to acquire the aircraft for display purposes.

Due to the difficulty in obtaining legal operating licenses for helicopters in Taiwan, most individuals who purchase them at auction are limited to collecting them or using them for parts. While the helicopters drew little interest, stocks from Banxin Commercial Bank and Yanghsin Bank were reportedly popular at the Changhua branch’s auction, with bids placed dozens of times.

Taichung Branch Focuses on Cryptocurrency Auction

The Taichung branch’s auction centered on virtual currencies. The Taichung District Prosecutors Office entrusted the branch to sell over 296,902 USDT, divided into 15 lots. Additionally, 4,969.24 USDC (USD Coin) and 10,036.06 TRX (Tron) were offered in separate lots. USDT is a stablecoin pegged to the U.S. dollar. Based on an exchange rate of approximately NT$32.9 per USDT on November 11, the 296,902 USDT were valued at roughly NT$9.77 million (approximately US$297,000).

The Taichung branch stipulated that prospective bidders for the virtual currencies must provide identification, sign a commitment letter, and have an account with a company registered for anti-money laundering (AML) compliance with the Financial Supervisory Commission. Upon successful bidding, the virtual currency would be directly transferred to the winner’s wallet with such a registered entity. This means that winning bidders must possess an exchange account registered in Taiwan. Chou Lung-kuang, chief executive officer of the Taichung branch, stated that these cryptocurrencies were seized from a criminal syndicate.

Chou Lung-kuang estimated the market value of the seized virtual currencies to be around NT$9 million. Reports from TTV indicated that the virtual currency auction generated the most enthusiastic bidding from the public at the Taichung venue. As of press time, no winning bid prices for the 15 USDT lots had been released by the Taichung branch, and it remained unclear if all lots were sold. The two helicopters from the Changhua branch are scheduled for re-auction in December.

Can Auctioned Helicopters Be Flown?

Chiu Shih-min of the Taiwan Aviation Association reiterated that Taiwan’s helicopter regulations are strict. While auction prices are typically 10-20% of new aircraft costs, bidders may find they can only acquire them for display. TTV reports suggest that obtaining legal licenses is difficult, and most purchases are for collection or parts.

How to Participate in the Administration Enforcement Agency’s USDT Auction

The Taichung branch requires bidders to present identification, sign a commitment letter, and have an account with an AML-registered company. Successful bids will result in direct cryptocurrency transfers to the winner’s wallet. The USDT auction was divided into 15 lots.