French court jails Equatorial Guinea leader’s son for embezzlement

Teodorin Obiang Nguema, the son of Equatorial Guinea's president Teodoro Obiang Nguema sits. [Photo credit: VOA News]
Teodorin Obiang Nguema, the son of Equatorial Guinea's president Teodoro Obiang Nguema sits. [Photo credit: VOA News]

A French court on Friday found the son of Equatorial Guinea’s President guilty in absentia for using money plundered from his country to buy property and luxury cars in France.

Teodorin Obiang, the eldest son of President Teodoro Obiang and a vice-president himself, was also handed a three-year suspended prison sentence and a suspended 30 million euros ($35 million) fine.

The Paris court found Mr. Obiang, 48, guilty of embezzlement and ordered the confiscation of more than 100 million euros worth of his French assets.

Mr. Obiang denied the charges.

The case is the first of several to reach court in a broader judicial investigation into allegations of illicit acquisitions in France by long-time leaders and family relatives in several African countries including Gabon and Congo Republic.

Mr. Obiang was first put on trial in January, but the case, 10 years in the works, was postponed after his lawyers argued they had not had enough time to prepare his defence.

Mr. Obiang’s luxury residence on Paris’ Avenue Foch – a grand, sweeping road near the Arc de Triomphe often favoured by wealthy African expatriates and politicians, was among the assets scrutinised during the trial.

The property, bought for 25 million euros in 2005, had a gym, hair-dressing studio and disco with cinema screen.

Paris prosecutor, Jean-Yves Lourgouilloux, said Mr. Obiang’s “fraudulent spending” amounted to more than 150 million euros.

His father, President Teodoro Mbasogo, has ruled Equatorial Guinea, a former Spanish colony, for more than three decades, making him one of Africa’s longest-serving leaders.

The rights groups have labelled his administration as one of the world’s most corrupt regimes. (Reuters/NAN)


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:DIABETES Is CURABLE! Don't Let It Threaten You! To NORMALIZE Your Blood Sugar In 21Days For Life, Click Here!!!.


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • John A

    The foolishness of a blackman.
    The looted money has been seized and with 3 years prison term. France will use that money to boost their economy.
    How do you expect Africa to grow, when we have mad men running the affair of their countries?

    • obiora

      You do not know how world politics works. So France see it now that this Man looted his Country Money.

      • John A

        who do you blame France or the greedy moron?

    • 0tile

      This is nothing compared to billions of dollars the looting gang siphon away from Nigeria every month in the name of buying war planes. It is also pennies compared to trillions of dollars Danjuma, Dauda Mark and others bandits smuggled away to Panama and the Arab world. At least Prince Teodorin is spending his own loots on tangible things but the Nigerian rogues are hording theirs in foreign banks with fake credentials and proxies to avoid responsibility. These people are the worst enemies of Nigeria. Of course Buhari plays dumb to the looting by his people.

      • John A

        wait for the revelation of his admin.

  • Suleiman Alatise

    Oyinbo wayo, thief steal another thief carry.

  • objective

    Fined him €35 million? These people? Where will they take the fine from if not from the stolen money? They have now stolen that portion of the stolen wealth.

    When will our people become wise and stop making our nations work for these people?

    • Wale

      Not only the fine but also “The Paris court found Mr. Obiang, 48, guilty of embezzlement and ordered the confiscation of more than 100 million euros worth of his French assets”
      Our Diezani is going through the same s**t in UK, you blame them?