SWITZERLAND TO AUCTION 75 LUXURY CARS WORTH N6.8 BILLION SEIZED FROM EQUATORIAL GUINEA PRESIDENT’S SON
Citizen NewsNG
2 min read
Teodoro Nguema Obiang Mangue is the vice president and son of the president of Equatorial Guinea. He has been in office since 2012.
In line with money-laundering investigation, his collection of luxury cars are up for sale. An auction house in Switzerland would be selling to those willing to bid.
According to Bonhams the auctioneer, the cars are worth about $18.7million (N6.7billion).
Brazil seized $16.5m from him in 2018. USA seized $70m, 2011.
The Netherlands seized his $100m yacht in 2016
As Minister of Agriculture and Forestry for 15 years, Teodoro Obiang Nguema Mangue Obiang had a monthly salary of £2,700.
He hired Superyacht Tatoosh for $700,000 to go on a Christmas cruise with Rapper eve in 2005.
He spent R10 million in one weekend in South Africa.
Teodorin Obiang spent the money on champagne, property renovations, a black 2004 Bentley Arnage, a cream 2005 Bentley Continental R and a 2005 Lamborghini Murcielago
He also owns two houses in South Africa worth R50 million.
He owns a $31 million compound in Malibu, Ca, USA.
In 2015, Obiang took over $150 million 295 feet super yacht Ice. Its home port is Gibraltar, but is moored at Tangiers, Morocco.
On October 18, 2016, Switzerland started investigating Obiang after he arrived 8 times in Geneva. France asked for them to work together to nail him.
Teodoro Nguema Obiang Mangue owns a 5,000 square feet (460 m2) home on Avenue Foch in Paris, France and the record label, TNO Entertainment.
In 2008, he purchased 1 of the 30 Bugatti Veyron 16.4 sports cars for €1.1 million and a Maserati MC 12 for €700,000.
Obiang purchased another Bugatti Veyron, and tried to purchase a third. In 2011, both Veyrons and others 9 cars of his were seized by French police investigating a corruption case. In July 2013, the confiscated goods were sold by France.
