A collection of luxury cars confiscated by Geneva authorities from a son of the president of Equatorial Guinea is estimated to fetch 18.5 million Swiss francs ($18.67 million) this weekend, Bonhams auction house said on Friday. Teodorin is the son of President Teodoro Obiang Nguema Mbasogo, who has ruled the west African state for four decades. Rights groups have labelled his administration one the world’s most corrupt. Swiss prosecutors said in February that they had closed an inquiry into Teodoro Nguema Obiang for money-laundering and misappropriation of public assets with an arrangement to sell the cars to fund social programs in the former Spanish colony.
This is seemingly not his first brush with the law. In 2017, he was condemned to three years’ correctional facility time by a French court, after he was indicted for redirecting open cash to purchase craftsmanship, vehicles, and different trappings of a worldwide playboy. (300 jugs of Château Pétrus wine, purchased for €2.1 million, or $2.3 million, were only the start.) The case has since been advanced. As a feature of an arrangement with investigators, $23 million from the deal will be sent to social causes in Central Guinea.
Twenty-six Ferraris, Lamborginis, Bentleys, and Moves Royces possessed by the VP and previous agribusiness priest known as Teodorin are shown at Bonmont golf and nation club in the Swiss town of Cheserex, 30 km (19 miles) from Geneva, in front of Sunday’s deal. Altogether, 75 esteem autos, for the most part post-war, will be on the square at a twelfth Century nunnery where phone banks anticipate bidders.
The 2014 Lamborghini Veneno Roadster that sold at a Swiss golf club to an undisclosed buyer is literally one of a kind. Only nine of the models were made, to begin with. Then there’s the fact that this particular model, with its beige leather seats and monogrammed doors, comes with an appropriately jaw-dropping backstory.
The Roadster was in a fleet of 11 extraordinary cars confiscated by Swiss authorities in early 2016 from Teodorin Obiang Nguema, the son of Equatorial Guinea’s authoritarian leader, Africa’s longest serving president. Among the selection were Bentleys, Ferraris, and a McLaren. The cars appear to have been barely driven.
Obiang Nguema, who is accepted to have a total asset of around $600 million, additionally endured the overwhelming mishap of losing his 76-meter (250 ft) extravagance yacht to Swiss specialists.
All but one of the 26 cars from the Obiang collection will be subject to import tax if they remain in Switzerland. They didn’t have Swiss tax paid and are not Swiss-registered. A 1956 Aston Martin Lagonda, owned by Claude Nobs, the late founder of the Montreux Jazz Festival, is also on offer. The Rolling Stones, Petula Clark, Aretha Franklin, Nina Simone, David Bowie and Freddie Mercury are among performers to have ridden in the raspberry vintage vehicle.
By Noni Nchwe