Son of Equatorial Guineas President, fined 30 million euro for embezzlement

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Teodorin Obiang, the son of Equatorial Guinea leader, fined 30 million euros by a Paris court on Monday. Confiscation of all his assets followed the ruling for embezzling public funds.  Teodorin plundered his countries money to fund a jet lifestyle in Europe.

In 2017 the court found him guilty and handed a three-year jail term as well as the 30 million euro – both suspended.

Mr Obiang also a vice president challenged the penalty only to have the Paris court return a more substantial sentence on Monday. The president’s son fond of luxurious life and Michael Jackson’s memorabilia did not show up for the ruling just like he did not attend his initial ruling.

Prosecutors estimate he laundered 150 million euros – 16.4 billion ksh – in misappropriate funds in France.

Properties

The year-old owns a six-storey, 107 million euro mansion in an upscale part of Paris. The house has a hammam, a disco and gold plated taps. Trucks hauled away a fleet of Bugatti’s, Ferraris, a Rolls Royce Phantom and other cars as evidence.

Obiang’s lawyers appealed with international court of justice to claim the property. They claimed the property should have the same protection as the other diplomatic buildings.

In September, Switzerland auctioned off a collection of luxury cars seized by authorities from Teodorin Obiang.

Obiang said his money came from legitimate sources. His lawyers accused France during his trial for meddling in the affairs of a sovereign state.

Mr Obiang served as Agriculture and Forestry minister before his father promoted him to vice president. The promotion put him in a pole position of taking over the leadership one day. Obiang’s father has ruled the oil-rich country for forty years.

Equatorial Guinea

Africa’s only speaking nation, Equatorial Guinea is the continents third-largest oil producer, but more than half of its 1.2 million population live below the poverty line. Human rights group often accuse Guinea of corruption, repressive laws, torture and extrajudicial killings.

Obiang Nguema overthrew his uncle Francisco Macias Nguema in a bloody coup in August 1979. A few months later, Obiang became the president. He has seen off at least half a dozen assassination or coup attempts. The latest, in December 2017 reportedly involved a group of men from; Chad, Central African Republic and Sudan.

A lawyer for one of the NGO’s who initiated the case said that; a culture of impunity is the indispensable means to organizes and maintain a system of predation of public resources in Africa or elsewhere. He added that the case against the president sons should serve as a strong and powerful signal to the others.

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