£5million in supercars seized from Paris home of president of Equatorial Guinea.

 

 

Eleven supercars worth up to £5 million have been seized from outside an African dictator’s Paris mansion as part of a foreign aid money-laundering investigation.

The vehicles, which included two Bugatti Veyrons, a Ferrari 599 GTO and a Maserati MC12 are all registered to Teodoro Obiang Nguema, the president of Equatorial Guinea.

Police swooped on his £15 million mansion on the prestigious Avenue Foch, close to the Arc de Triumphe, this morning, piling all of the vehicles on to a car transporter. They are all thought to be ‘ill-gotten gains’ bought so as to hide huge amounts of cash smuggled into France from Africa, said a police source.

 

He is one of numerous African heads of state who regularly receive vast handouts in foreign aid – including British cash via European funding.

‘There is an on-going judicial investigation into money laundering and other crimes related to the receipt of foreign aid,’ the source added. ‘These seizures have resulted from this enquiry.’
The cars, which all appeared to be new, also included an Aston Martin V8 600lm, Rolls-Royce Drophead Coupe, a Porsche Carrera GT, and a Ferrari Enzo, as well as various Bentleys.
Obiang Nguema, who is the current chairman of the African Union, was not thought to be present at the time of the seizures, though a member of his staff told police that the cars were ‘mainly used by his son, Teodorin Obiang'. 

The Supreme Court of France has appointed an investigating judge to conduct a judicial inquiry into claims that Obiang Nguema has used state funds to purchase property include the Avenue Foch house. 
Equatorial Guinea is oil rich, but poverty remains rife and there are regular allegations of high-level corruption, especially by Obiang Nguema and his eldest son, Teodorin.

All of the cars have been impounded and – if the Obiang Nguemas are unable to get them back – they are likely to be auctioned. 

Culled from Daily Mail UK