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Swiss Govt Confirms Auction of 25 Super-cars Seized from Son of Equatorial Guinea’ President Teodoro Obiang

A fleet of luxury, high-performance cars seized from the son of Equatorial Guinea’s president have been auctioned off for more than $23 million.

The 25 cars were seized by Swiss authorities after an investigation into money laundering. They once belonged to Teodoro Nguema Obiang Mangue, who is also vice president to Equatorial Guniea’s 40-year ruler President Theodora Obiang.

Teodorin Nguema Obiang. Photograph: Jerome Leroy/AFP/Getty Images

Among the cars sold Sunday were Lamborghinis, Ferraris, Bentleys, Rolls Royces and a McLaren.

A rare white Lamborghini Veneno Roadster, one of only nine built, sold for $8.3million to an anonymous buyer.

Proceeds from the auction will go to a charity to fund social programs in the tiny oil-rich Central African country.

Obiang’s luxury lifestyle has draw foreign ire before. Last year, Brazilian officials seized $16 million in cash and high-end watches from a delegation traveling with Obiang.

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He was given a three-year suspended sentence by a French court for spending millions of dollars of public funds on a Paris apartment, a private jet and a fleet of luxury cars.

The Lamborghini Veneno Roadster shown on the website of auctioneer Bonhams.

Earlier, he entered into a $30 million settlement with U.S. authorities who accused him of using looted public funds to buy a California mansion and a vast collection of Michael Jackson memorabilia, including the crystal-encrusted white glove from Jackson’s “Bad” world tour.

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Written by How Africa

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  1. The mind of another Westernize African colonized black Caucasian. It is not surprising since this is what African colonial masters have trained most leaders of African nation to turn their backs on their people. But what is interesting is you hear nothing of the Western banks being charged for laundering this money. And the white corporate devils just sit in the background and profit from what they know are illicit funds stolen from countries coffers worldwide. Why these corrupt Western bankers keep their cut. The black face is always put in media as the culprit.

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