Swiss Auction of Obiang’s Car Raises $27 Million for Social Programs in Equatorial Guinea

IMPORTANT: The full content of this page is available to premium users only.

Tuesday, October 1, 2019
Author: 
Bruce Zagaris
Volume: 
35
Issue: 
10
Abstract: 

On September 29, 2019, the Swiss government auctioned a collection of 25 supercars for $27 million.  The Swiss government seized the cars from Teodorin Nguema Obiang, the vice president of Equatorial Guinea and the son of the current President Teodoro Obiang Nguema Mbasongo.[1] In October 2016, the Swiss prosecutor started the investigation, alleging misappropriation of public assets by Teodorin Obiang.  The Swiss prosecutor accused Teodorin, along with two others whose names were not given.[2]