French trial reveals vast wealth of Equatorial Guinean president’s son
French trial reveals vast wealth of Equatorial Guinean president’s son
Posted by John P. Bradford // January 3, 2017
Teodorin Obiang, accused of plundering $115m, owns luxury properties, yachts, cars and Michael Jacksons crystal glove
The days of the Bugattis, the chateau Ptrus and the fine Parisian restaurants may be over for Teodorin Obiang at least in western Europe.
The son of Equatorial Guineas leader is due to go on trial for corruption and money laundering in a landmark case in France.
Obiang, the 47-year-old vice-president of the oil-rich but impoverished African country, faces an array of legal cases across Europe as authorities on the continent investigate the sources of his vast wealth and uncover new and even more extravagant ways that he spent some of it.
US officials have already forced Obiang to forfeit property after accusing him of shamelessly looting his country. In a settlement, Obiang agreed to hand over more than $30m (24.5m) worth of properties, including a vast villa in Malibu, California, and a dozen luxury cars.
Obiang, however, managed to keep his $38m private jet and collection of Michael Jackson memorabilia, which includes a crystal-studded glove.