Peru To Auction Jewelry Seized From Ex-Intelligence Chief Vladimiro Montesinos [PHOTOS]

Dozens of gold watches and jewelry seized from ex-intelligence chief Vladimiro Montesinos, who is currently serving jail term for corruption, will be auctioned next month, the government of Peru said Friday.

Peru experts reportedly said that they anticipate at least $1 million will be raised from the sale of about 150 items. The money will go towards fighting corruption, said Maria Sosa, head of the Peru's commission for confiscated assets, according to Reuters.

"With this we'll be able to close a chapter in our fight against corruption and, most importantly, monetize the assets in the interest of the state," Sosa reportedly said.

The jewelry on sale reportedly include 39 gold watches, about 18 gold and diamond rings, dozens of diamond-encrusted gold cufflinks and several other items. Among these, the most expensive item reportedly is a Corum gold watch encrusted with more than 300 diamonds that is expected to be auctioned for about $160,000.

Vladimiro Montesinos’ Jewels — A white gold watch with 300 embedded diamonds, valued at $160,000 and confiscated from Peru's former head of Intelligence Vladimiro Montesinos, is displayed to the media before auction, in Lima July 25, 2014. Reuters/Enrique Castro-Mendivil

seized jewels — A gold medal with embedded diamonds, confiscated from Peru's former head of Intelligence Vladimiro Montesinos, is displayed to the media before auction, in Lima July 25, 2014. Reuters/Enrique Castro-Mendivil

jewelery seized — Pieces of jewelry confiscated from Peru's former head of Intelligence Vladimiro Montesinos are displayed to the media before auction, in Lima July 25, 2014. Reuters/Enrique Castro-Mendivil

The 69-year-old Montesinos fled Peru in 2000 after a leaked video showed him bribing a lawmaker, which led to the fall of former president Alberto Fujimori's government.

Montesinos was captured a year later in Venezuela, and it was revealed that during Fujimori's 10 years in office, the intelligence chief had been involved in arms trafficking, filching state funds and other crimes.

Fujimori is also in prison serving a 25-year sentence for corruption and human-rights abuses.