The Geneva Prosecutor’s Office has closed an investigation into Teodorin Obiang, the son of the president of Equatorial Guinea, regarding money laundering and mismanagement of public assets.
This content was published on
2 minutes
swissinfo.ch/vdv
Prosecutors said on Thursday that Equatorial Guinea had agreed to pay Geneva authorities CHF1.3 million ($1.3 million) in “procedural costs”. These involved requests for legal assistance to the United States, the Cayman Islands and Marshall Islands, France, the Netherlands, Monaco and Denmark, the prosecutor’s office saidExternal link on Thursday.
The prosecutor’s office said that all 25 cars seized in Geneva will be sold and the proceeds given to a social programme in Obiang’s home country.
This will be implemented “transparently on the basis of an international accord negotiated by the Swiss foreign ministry”, the prosecutor’s office said. The “Ebony Shine” yacht has been released, it added.
The statement did not give details about the cars or which of the defendants owned them.
In 2016, the Swiss weekly magazine L’Hebdo reported that the seized vehicles included a Porsche 918 Spider valued at €750,000 euros, a Bugatti Veyron worth €2 million and a Swedish supercar, the Koenigsegg One:1. Only seven Koenigsegg One:1 models have been built, initially selling for around €2 million.
In 2017, Obiang was sentenced to three years’ probation for embezzlement and corruption in France. The 49-year-old financed his luxurious life with embezzled money from the treasury of Equatorial Guinea. The French judiciary seized clothes, jewellery, works of art, real estate and luxury cars worth CHF200 million.
Obiang was named vice-president of Equatorial Guinea in June 2016 by his father and the country’s president Teodoro Obiang Nguema. Nguema has been in power for nearly 40 years, making him Africa’s longest-ruling dictator.
Popular Stories
More
Aging society
Is Switzerland repeating England’s housing mistakes?
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
This content was published on
Despite the current tense economic situation, Swiss consumer sentiment remains positive. The Swiss spent more money in May than the previous year, particularly on restaurant visits and leisure activities, as shown by the latest figures released by PostFinance.
This content was published on
A bear killed four sheep in the Lower Engadine region near Scuol, canton Graubünden last week. This was the first bear attack on livestock in the region in four years.
This content was published on
Experts believe that economic development in Switzerland will be weaker in 2026 than three months ago. They have also lowered their expectations for the current year.
This content was published on
Fewer people in Switzerland have a religious affiliation and the proportion who practice their religion regularly is steadily declining, a survey finds.
Study: trees have major cooling effect even in extreme heat
This content was published on
Plane trees in cities have an important cooling effect even in extreme heat, according to a new study by the Swiss Federal Institute for Forest, Snow and Landscape Research (WSL).
EPFL launches digitised version of Battle of Murten panorama
This content was published on
To mark the anniversary of the Battle of Murten on 22 June 1476, the Federal Institute of Technology Lausanne (EPFL) has launched a website that offers the public an immersive experience of the huge panorama painting of the historic battle.
77th Swiss Gymnastics Festival praised for ‘positive energy’
This content was published on
The 77th Federal Gymnastics Festival drew to a close on Sunday in Lausanne, after eleven days of popular celebration and sporting performances.
This content was published on
Emergency crews contained the oil and began removing some of the pollution from the water’s surface, said the St Gallen cantonal police on Sunday.
Switzerland lifts sanctions on Syria after Assad’s fall
This content was published on
Switzerland is lifting economic sanctions on Syria, but targeted measures against figures linked to the former regime remain in place.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss refuse to release Obiang luxury cars
This content was published on
Genevan authorities seized 11 sports cars last October, followed by another 13 in the subsequent months, in response to a French request for legal assistance. The cars include a Bugatti Veyron, four Ferraris including an Enzo and 599GTB, a Porsche 918 Spyder, a Lamborghini Veneno, a Maybach, a Koenigesegg, an Aston Martin and a McLaren…
Supercars of son of Equatorial Guinea’s president seized
This content was published on
The Swiss investigation into Obiang’s assets was opened in mid-October. “The Geneva public prosecutor confirms the opening ofcriminal proceedings against Teodorin Obiang. The latter isaccused of money laundering,” the prosecutor’s office said in an e-mailed statement to Reuters. “As part of the procedure, 11 vehicles were effectivelysequestered in the cargo area of Geneva airport on behalf…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.