The infamous Vice President of Equatorial Guinea who is also consequently the son of sit tight President, Teodoro Obiang has been found guilty of corruption. Teodorin Obiang has, therefore, been sentenced to three years imprisonment in France.
This guilty verdict is the culmination of a long investigation by French authorities into allegations that Obiang embezzled $175 million from his country.
The money was apparently used to buy luxury cars, real estate, and other assets in France and as part of the sentence, those assets will also be seized. The sentence and a fine of 30 million euros levied against him were both suspended.
Patricia Moreira, managing director of Transparency International, said that “This is a great day for the people of Equatorial Guinea and it is a strong signal to corrupt leaders all over the world that there is no impunity for grand corruption.”
Transparency International was one of the groups along with Sherpa, another NGO, that has been pursuing a case against Obiang. Patricia Moreira continued her statement by saying;
“There is an urgent need now for new laws to be put in place so that the property confiscated in cases like this is returned to its legitimate owners.”
The sentencing is the latest blow to Teodorin Obiang who handed over more than $30 million in assets, including a villa in Malibu, California, and luxury cars to US authorities in a previous settlement.
According to Quartz, “European authorities have also seized some of Obiang’s assets, including a $120 million 76-meter yacht, called Ebony Ice, a fleet of some of the world’s rarest cars, and a mansion in Paris, complete with a club, gold-plated bathrooms, and original paintings by Degas and Renoir.”
Considering the playboy Vice President stole at least $115 million from the country while serving as agriculture minister, it is doubtful that the people of Equatorial Guinea would mind all these seizures and the reach of the long arm of the law.