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Swiss Prosecutors End Money-laundering Probe Against Equatorial Guinea Leader’s Son

This would still fresh in the memories of many. The son of Eq Guinea president, who also double as the country’s vice president was couple of months ago captured in Swiss with some sophisticated, luxurious items, including cars and were all confiscated by the Swiss govt. He was later charged to court for money-laundering but it all look like there is a twist to that now.

Swiss prosecutors on Thursday announced they have closed a money-laundering inquiry into a son of the President of Equatorial Guinea with an arrangement to sell 25 confiscated luxury cars.

The probe, opened in October 2016, also concerned misappropriation of public assets by Teodoro Obiang.

He was accused along with two others whose names were not given.

The 25 vehicles will be sold and the proceed will be handed over to a social program on the territory of Equatorial Guinea.

“The 25 vehicles will be sold and the proceed will be handed over to a social program on the territory of Equatorial Guinea,” the statement said.

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The “Ebony Shine”, a yacht confiscated in the Netherlands following a request for judicial cooperation, has been released.

The government of Equatorial Guinea has agreed to pay the Geneva state $1.3 million, to cover the cost of the investigation.

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Written by How Africa

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