Myanmar Civilian Govt Auctions Another Junta Leader Property
By The Irrawaddy 5 August 2022
Myanmar’s civilian National Unity Government (NUG) has launched the second sale of the regime leader Min Aung Hlaing’s illegally seized property in Yangon to help fund its revolution.
The NUG in May put Min Aung Hlaing’s mansion at 14 Inya Road in an affluent Yangon neighborhood on sale. The first sale reached the target in share sales of US$10 million on July 30.
On Friday, the NUG’s Ministry of Planning and Finance announced the auction of another property in 6.5-mile Yangon, which is also beside Inya Lake and valued at over $20 million.
Priced at one-third of the market price at $7 million, the NUG will sell 70,000, $100 shares for ownership of the 1.8-acre site.
Shareholders will receive a proportion of the proceeds when the property is sold at auction if the NUG takes power.
“An objective is to give a message to both old and new dictators that if they attempt a coup, far from getting the wealth they longed for, they will lose everything they stole,” the ministry said, calling on the public to participate in the project.
The NUG’s minister of planning and finance U Tin Tun Naing told The Irrawaddy at an online press conference in May that the ministry had identified 60 Yangon plots confiscated by regime leaders and the military-controlled defense and home affairs ministries for their benefit.
The minister said those plots were being reviewed to be reclaimed and will be included in the ministry’s auctions.
They include four houses illegally acquired by Min Aung Hlaing and his family, including 14 Inya Road.
The civilian government labeled the regime as a terrorist organization in June 2021.
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