The Geneva police stopped Teodorín Obiang (50) in 2016, at the airport, as he was with eleven of his luxury cars towers. Teodorín is the son of Teodoro Obiang (77), in his capacity of President of Equatorial Guinea and the dictator. Since 1979, Teodoro Obiang in Power and has amassed at the expense of his compatriots a huge fortune. His son is now Vice President and is expected to inherit the dad after his death as President.
Until then, celebrated it but a lot of his luxury life. Once he is said to have 3.5 million dollars of a Samba group paid, so that this occurs at the Brazilian carnival in the colours of Equatorial Guinea. On Instagram, he shows off his yachts, airplanes, mansions and cars.
Lamborghini for six million francs
the Latter Obiang seem to have particularly impressed his fleet was just full of Nobel bodies. Therefore, it is likely to have a particularly pained that the Geneva authorities seized three years ago, 25 of its vehicles. Reason: Teodorín was suspected of money laundering and breach of trust in office. Among other things, he is supposed to have the cars with state funds purchased.
The case against Obiang junior, was left under the fall. It was decided, however, that vehicles to confiscate and sell. The auction of the vehicles will take place on 29. September at the Golf & Country Club of Bonmont, close to Geneva. This is the auction house Bonhams informs. Among the offered vehicles, a Lamborghini Veneno (estimated selling price: 6 million Swiss francs), a McLaren (1.5 million Swiss francs) and a Koenigsegg One:1 (around 2 million Swiss francs). The managers expect a total income of around 13 million Swiss francs.
money back to Obiang?
the proceeds from The auction will be used for “social programs” in Equatorial Guinea. The funds will therefore flow back to where the Obiangs are in control of everything. Teodorín and his father have always been suspected to be highly corrupt. Although the country is endowed with considerable oil and the gross domestic product has increased since the 1990s around 5000 per cent, the population is dirt poor.
About 80 percent of the people live below the poverty line, reports from various NGOs. The Obiangs? With an estimated fortune of over $ 600 million of the richest heads of state in the world. According to Human Rights Watch, Teodorín has been used between 2004 and 2006, more money (43,45 million dollars) for his lavish life style, than the government’s 2005 budget for education and training ($43 million). (vof)