“Cars like these would be the jewel of any collection, but to have them all together is really quite extraordinary”
This is certainly not the best of times for the son of one of Africa’s living dictators Teodorin Nguema Obiang. His motley of exotic cars are being auctioned in Switzerland as part of the drive to recover what he corruptly siphoned from the tiny oil producing nation of Equatorial Guinea. Teodorin, is the Vice President to his father Teodoro Obiang Nguema Mbasugo, who has ruled Equatorial Guinea over the last four decades.
Swiss authorities who have been investigating Teodorin, are left in no doubt that the 75 exotic cars seized from the 51-year-old, were gotten through the proceed of corruption.
Several Western media have been casting the spotlight on Teodrin over the last decade, describing his obscene lifestyle and penchant to be playboy. As Vice President of his impoverished nation, he is seen as the successor to his father who has ruled Equatorial Guinea since a coup in 1979.
Among the 75 seized cars, 25 have gone under the hammer at a golf resort in Geneva. The cars include Lamborghinis, Ferraris, Bentleys and Rolls Royces, expected to rake in not less than €17m.
“Cars like this would be the jewel of any collection, but to have them all together is really quite extraordinary,” remarked Lynnie Farrant, press officer for auctioneer Bonhams, in an interview.
Farrant further disclosed that the cars have attracted interest from collectors across the world, especially Europe. The proceeds of the sales will be donated to a charity in Equatorial Guinea.
Teodorin who is now legendary in the act of corruption, was handed a three-year suspended jail sentence by a French court in 2017 for corrupt enrichment.
Swiss authorities who have been investigating Teodorin, are left in no doubt that the 75 exotic cars seized from the 51-year-old, were gotten through the proceed of corruption.
Several Western media have been casting the spotlight on Teodrin over the last decade, describing his obscene lifestyle and penchant to be playboy. As Vice President of his impoverished nation, he is seen as the successor to his father who has ruled Equatorial Guinea since a coup in 1979.
Among the 75 seized cars, 25 have gone under the hammer at a golf resort in Geneva. The cars include Lamborghinis, Ferraris, Bentleys and Rolls Royces, expected to rake in not less than €17m.
“Cars like this would be the jewel of any collection, but to have them all together is really quite extraordinary,” remarked Lynnie Farrant, press officer for auctioneer Bonhams, in an interview.
Farrant further disclosed that the cars have attracted interest from collectors across the world, especially Europe. The proceeds of the sales will be donated to a charity in Equatorial Guinea.
Teodorin who is now legendary in the act of corruption, was handed a three-year suspended jail sentence by a French court in 2017 for corrupt enrichment.
