Africa should be richer than any other continent in this world, but our major problem is the people in Power, who launder money and lavish on other countries. The worst is they don’t invest in their country, none buy something that will with future benefits, they will rather travel to countries like Dubai, London, United states etc where they already have several citizenships with their children.
The biggest game players in Nigeria are all politicians using public funds for their personal interests, DON’T worry, we will talk about Nigerian politicians another DAY, now meet Equatorial Guinea’s Vice President Teodoro Obiang Mangue.
As Minister of Agriculture and Forestry for 15 years, Teodoro Obiang Nguema Mangue Obiang had a monthly salary of £2,700 (₦1,262,284.34).
He hired Superyacht Tatoosh for $700,000 to go on a Christmas cruise with Rapper eve in 2005.
He spent R10 million in one weekend in South Africa.
Switzerland seized his 25 cars and sold them for $27 million in 2019,
USNEWS Report, Car lovers splashed out more than $27 million at auction for dozens of luxury cars seized from the son of Equatorial Guinea’s president in a Swiss money-laundering probe.
The 25 lots sold by auction house Bonhams included a white-and-cream 2014 Lamborghini Veneno roadster that cost the buyer 8.28 million Swiss francs ($8.4 million), comprising a 15% premium for the auction house but with potential taxes still to be added.
The supercar — one of only nine such versions produced — had been driven only 325 kilometres (201 miles) and has an official top speed of 359 kilometres per hour (223 mph), Bonhams said.
Total proceeds from the sale beat the 18.5 million francs ($18.7 million) that authorities had hoped to fetch for a charity to benefit the people of oil-rich Equatorial Guinea.
- Brazil seized $16.5m from him in 2018.
- USA seized $70m in 2011.
- Holland seized his $120m yacht in 2016.
eodorin Obiang spent the money on champagne, property renovations, a black 2004 Bentley Arnage, a cream 2005 Bentley Continental R and a 2005 Lamborghini Murcielago
He also owns two houses in South Africa worth R50 million.
He owns a $31 million compound in Malibu, USA.
Teodoro Nguema Obiang Mangue owns a 5,000 square feet (460 m2) home worth $116.7 million on Avenue Foch in Paris, France and a record label, TNO Entertainment.
In 2008, he purchased 1 of the 30 Bugatti Veyron 16.4 sports cars for €1.1 million and a Maserati MC 12 for €700,000.
Obiang purchased another Bugatti Veyron and tried to purchase a third. In 2011, both Veyrons and other 9 cars of his were seized by French police investigating a corruption case. In July 2013, the confiscated goods were sold by France.
In 2015, Obiang took over $150 million 295 feet super yacht Ice. Its home port is Gibraltar but is moored at Tangiers, Morocco.
On October 18, 2016, Switzerland started investigating Obiang after he arrived 8 times in Geneva. France asked for them to work together to nail him.