11 Supercars Worth More than $8 Million Seized from Dictator’s Son in Geneva

[j_marinelli]

The life of an African Dictator....

http://www.motorauthority.com/news/1...eneno-and-one1

The supercar-loving son of Equatorial Guinea President dictator Teodoro Obiang Nguema Mbasogo has once again had his fleet of multimillion-dollar machines confiscated.

The latest collection includes a Bugatti Veyron, Koenigsegg One:1 and Lamborghini Veneno Roadster. Instagram user swisssupercars posted a short clip on Wednesday showing the cars loaded on the back of trucks and being carted away by Swiss authorities in Geneva.

Mbasogo’s son, Teodoro Nguema Obiang Mangue, officially the Vice President of the oil rich but poverty stricken Equatorial Guinea, made headlines in 2011 when French authorities seized his collection of supercars and other assets in a raid in Paris. That collection included a Bentley Azure, two Bugatti Veyrons, a Ferrari [NYSE:RACE] Enzo and 599 GTO, a Maserati MC12, and a Porsche Carrera GT. The entire collection was auctioned off in 2013 for just $4 million.

In the French case, Mangue is accused of using public funds to pay for his lavish lifestyle. He is also facing money laundering and other charges. Swiss authorities are working with their French counterparts in their own investigation but are yet to announce details regarding Wednesday's seizure.

Mangue and his father have also run into trouble with authorities in the United States, including having a mansion in Los Angeles seized. According to GT Spirit, Mangue is also no longer permitted to travel in the U.S. and France.

[paliknight]

some lucky bastard that won them for 4 mill can definitely make a nice profit.

[DSB335d]

Help me understand this.

Ok I get that they are scumbags etc.. his son is visiting another country and French/Swiss government's are seizing his property? He may be a POS dictator and I can understand them not being welcome to visit, but how is he breaking any laws while visiting another country? He is some dictator of some small African country and although what he is doing would be illegal pretty much everywhere; in the country he rules he can do whatever he wants. If he steps out and visits another country foreign governments are trying to police him and his son?

[TomHudson]

Originally Posted by DSB335d

Help me understand this.

Ok I get that they are scumbags etc.. his son is visiting another country and French/Swiss government's are seizing his property? He may be a POS dictator and I can understand them not being welcome to visit, but how is he breaking any laws while visiting another country? He is some dictator of some small African country and although what he is doing would be illegal pretty much everywhere; in the country he rules he can do whatever he wants. If he steps out and visits another country foreign governments are trying to police him and his son?

That's a yes.

[KingOfJericho]

How old is this story? I'm not being a dick, I'm just trying to figure out how this big of an automotive story was missed.

[shadow191]

Seems pretty new, saw a BBC article on it from 5 days ago.

Originally Posted by KingOfJericho

How old is this story? I'm not being a dick, I'm just trying to figure out how this big of an automotive story was missed.

[shadow191]

Seems they're going after him not for being a dictator but for money laundering. Money may have come from internal corruption in his country, but if he used Swiss or French banks to launder it, they can seize the assets. Based on the story, he's also had a house seized in LA.

Originally Posted by DSB335d

Help me understand this.

Ok I get that they are scumbags etc.. his son is visiting another country and French/Swiss government's are seizing his property? He may be a POS dictator and I can understand them not being welcome to visit, but how is he breaking any laws while visiting another country? He is some dictator of some small African country and although what he is doing would be illegal pretty much everywhere; in the country he rules he can do whatever he wants. If he steps out and visits another country foreign governments are trying to police him and his son?

[KingOfJericho]

Originally Posted by shadow191

Seems pretty new, saw a BBC article on it from 5 days ago.

Ah, I didn't read the article closely enough. This is the SECOND time this has happened to this guy.