Yacht used in cocaine smuggling operation up for auction

The 120ft yacht, called ‘MY Kahu’, was seized under the Proceeds of Crime Act, and will be sold unreserved, meaning it will go to the highest bidder of the auction.

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Stockton man Andrew Cole, 33, was among six people arrested for drugs offences when more than two tons of cocaine were seized from the yacht in September 2021.

The drugs were estimated to be worth around £160million.

The 120ft yacht, called ‘MY Kahu’, was seized under the Proceeds of Crime Act

In January this year Cole pleaded guilty to trying to bring drugs into the country and he was remanded in custody to be sentenced after the trial of his co-defendents.

MY Kahu will go up for auction on Wednesday April 27 at 3pm, with bidders having a 24-hour window before the aution closes at 3pm the following day.

Wilsons Auctions’ Government Contracts Manager, Mark Woods said: “We are delighted to manage the sale of this high-profile asset.

The 120ft yacht, called ‘MY Kahu’, was seized under the Proceeds of Crime Act

"It is reported that around £160m worth of cocaine was found on board MY Kahu and that is why the vessel is now being offered for sale by auction.”

“We are proud to facilitate auctions on behalf of our government and law enforcement agency clients.

"We play an important role in realising a large quantity of assets on behalf of these clients and in recent years, these auctions have seen us responsible in returning £130 million back into the public purse.”

“The online element of the auction is extremely convenient for bidders around the world to register and get involved.

"This will be an exciting one to watch.” 

Currently berthed at Torquay Marina in England, MY Kahu is 120 ft/36.58m expedition yacht that was built in 1979 for the Royal New Zealand Navy.

The 120ft yacht, called ‘MY Kahu’, was seized under the Proceeds of Crime Act

She was converted in 2010 into a pleasure craft and has since travelled the globe including making multiple transpacific and transatlantic voyages.

Featuring a large main salon, fully equipped galley and five staterooms for guests, she also benefits from additional accommodation and space for four crew members.

An open day for viewings will be held on April 20, strictly by appointment only for potential bidders.

Viewing appointments will be available to book via contacting Mark Woods on +44 (0)2890 342626 or emailing markwoods@wilsonsauctions.com. 

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