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By APD writer Aditya Nugraha
GENEVA, Sept. 29 (APD) - Swiss authorities sold 25 luxury cars belonged to Teodoro Nguema Obiang Mangue, the son Equatorial Guinea President Teodoro Obiang Nguema Mbasogo after they closed their probes against Obiang in February over money laundering and misuse of government assets.
The sale on a set luxury cars, including Rolls Royce, Ferrari and Lamborghini, started on Sunday, conducted through auction by prominent auctioneer firm of Bonham’s.
Swiss authorities seized those cars and ordered the sequestration of a yacht in 2016, expecting to get some 18.5 million Swiss francs from the auction that would be used to fund social programs in the former Spanish colony.
Obiang, who was appointed as the vice president by his father who rules Equatorial Guinea over 4 decades, also embroiled in legal cases elsewhere in the world.
Brazilian authorities confiscated last year, US$ 16 million of undeclared cash and luxury watches from the West African country’s delegation, which were believed as part Obiang’s money laundering attempt in the country.
In 2017 a Paris court in 2017 convicted the son of embezzling millions of dollars in public money, although the case has been appealed.
Investigation into Obiang’s case involved authorities in the United States, the Cayman Islands, France, Monaco, Denmark, the Netherlands and the Marshall Islands.
(ASIA PACIFIC DAILY)
