What happens to ninja'd items if they land on the AH?

The only thing I gathered from the official guideline thread, is that items will never be transfered to whoever actually had the right to it.
But does this mean the ninja looter gets to keep the item after they got banned?
Do they get to keep the gold in case this was about an expensive BoE drop that they sold off on the AH?
What if they have already spent the gold?
I've been hearing different answers but they were all from unofficial sources (people talking from own experiences), so I wanted to ask the question here too.

My common sense would say that the items or gold at least gets deleted with the ban (even if this doesn't really solve the issue for the victim, since he still ends up losing the item he deserved).

But from a recent personal case: I've seen the person I reported receive a 5-day ban for ninja-looting an exceptionally expensive BoE in a dungeon, yet the actual item itself remained in the auction house for its entire duration until it expired, which leads me to believe that the item will not be removed from his inventory. This of course is just speculation since I don't know what the procedure actually looks like, until his ban expires and I will see him list the same item again. But if the policy is that items do not get deleted, then trading in a small 5 day vacation for a dozen of free coins sounds like a really good deal, since you can just play on another account in the meantime lmao

Items aren't taken away.