Teodorin
Obiang, who's the Vice President of Equatorial Guinea and the eldest
son of President Teodoro Obiang denied the charges of laundering
embezzled public funds. He is being tried in absentia.
The
French authorities investigating the possibly illicit purchases of
French assets by African leaders, estimate that Teodorin’s collection of
cars, real estate, and other items are worth more than €100 million
(about $115 million). The prosecutor is also seeking a €30 million fine
for Teodorin.
The Prosecutors allege that
Teodorin stole at least $115 million from the country while serving as
agriculture minister for his father, who first took power in 1979.
Among
the acquisitions at the centre of the trial are a large property bought
for 25 million euros ($28.31 million)in 2005 on Paris's upmarket Avenue
Foch, with gymnasium, steam room, hairdressing studio and a discotheque
with cinema screen.
In addition, prosecutors
say Obiang built up an exceptional collection of costly cars, which
along with clothes, jewels and real estate took the value of all his
assets to around 100 million euros.
According
to Reuters, the case is the first of several to reach court in a broader
judicial investigation into allegations of illicit acquisitions in
France by long-time leaders and family relatives in several African
countries including Gabon and the Congo Republic.
The court's ruling is expected to come at a later date.
Over
the past few years, European authorities have seized some of Obiang’s
properties including a $120 million 76-meter yacht, called Ebony Ice,
and a fleet of some of the world’s rarest cars, and a mansion in Paris,
complete with a club, gold-plated bathrooms, and original paintings by
Degas and Renoir.
In a previous settlement with
US authorities, Obiang handed over more than $30 million in assets,
including a villa in Malibu, California and luxury cars. He was able to
keep Michael Jackson collectors items including a crystal glove Jackson
once wore.
11 comments:
madness !!!!!
Madness!!!
Seriously? Son of a President Jailed? Well the money in question is really high but lets see how this turns out at last. Check out Nigerian University news
Issokay
... Merited happiness
My God, wat has happened to Africa, dis s too bad. If the son could do dis wat abt d father.
These are the faces of Africa's new "colonial masters" whether in Equatorial Guinea or Nigeria. It's an enormous shame given the endemic challenges that still beset the continent: access to basic necessities of life; clean portable water, electricity, health care, transportation, communication, housing, security and even food. Yet, leaders like Obiang could care less. Rather, they are focused on living decadently, in perpetuity, off of the peoples sweat. How much longer will Africa's youths keep taking this "daylight robbery" of their future lying down? Nah question-o QED@atm
He is the son of the President and he's the vice President. What a joke of a country!! Africans!! Our backwardness no be here!
Criminals everywhere
-D great anonymous now as Vivian Reginalds
Sooo French govt is still on this matter? Prosecuting the ones that refuse to bow to them? Europeans want to control all African countries but Equatorial Guinea refused to be under their influence hence the persecution. What has any of these so called international courts done about the looming loots in Nigeria? I see billions of dollars discovered every day from suckaways and holes, graveyards in my dear country Nigeria, what have they done? Instead the international courts give these animals of individuals rights to bail and all..everything the Europeans do is strictly for their own benefit abeg..let sleeping dogs lie.
Please let their investigation extend to Nigeria.
Atleast naija no worst reach dat stage
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