SWITZERLAND SEIZES LUXURY CARS OF EQUATORIAL GUINEA’S VP FOR ALLEGED LAUNDERING

Prosecutors in Switzerland have seized luxury cars belonging to the vice-president of Equatorial Guinea, who they are investigating for corruption.

Teodorin Obiang Nguema, the son of the country’s president, is accused of money laundering. He has not commented.

Swiss authorities have seized 11 cars in total, including a Porsche valued at more than $830,000 (Pound 667,000) and a Bugatti Veyron which sells for $2m (Pound 1.7m).

Prosecutors in Geneva say he has plundered his country’s oil wealth to buy luxuries, including a private jet and Michael Jackson memorabilia.

Equatorial Guinea, a small country on the west coast of Africa, struck oil in 1995.

Its president, Teodoro Obiang Nguema, is Africa’s longest serving leader. He seized power in 1979.

Obiang, 47, who was promoted in June by his father to be vice-president, was already set to face trial in France next year on corruption and embezzlement charges.

He is challenging those charges at a UN court and is not expected to appear before the French judges.

Source: NAM NEWS NETWORK.

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