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Tag: Equatorial Guinnea

Equatorial Guinea leader’s son Sanctioned over ‘lavish lifestyle’ spending

Equatorial Guinea leader’s son Sanctioned over ‘lavish lifestyle’ spending

FEATURED, NEWS, Politics
Britain said Obiang had bought a $100 million mansion in Paris, a $38 million private jet, a luxury yacht, and dozens of luxury vehicles including Ferraris, Bentleys and Aston Martins BRITAIN on Thursday sanctioned the son of Equatorial Guinea’s president for misappropriating millions of dollars which London said was spent on luxury mansions, private jets and a $275,000 glove worn by Michael Jackson. Foreign Secretary Dominic Raab said Teodoro Obiang Mangue (pictured), who is also vice president of Equatorial Guinea, had participated in ‘corrupt contracting arrangements and soliciting bribes, to fund a lavish lifestyle inconsistent with his official salary as a government minister.’ he Equatorial Guinea government did not immediately respond to a request for comment from Reuters. Britain s...
Vice President Fined USD30m Fine Over Abuse of Gov’t Funds

Vice President Fined USD30m Fine Over Abuse of Gov’t Funds

NEWS
By Elite Reporter Trouble is brewing in State House after the son of Equatorial Guinea’s leader was handed a USD30 million fine by a Paris court on Monday, on top of a suspended jail term for using public money to fund a jet-set lifestyle in Europe. US Model Porsha Williams dates Teodoro Nguema Obiang Mangue Teodoro Nguema Obiang Mangue, who is the son of Equatorial Guinea’s leader Teodoro Obiang Nguema, had been convicted in 2017 of embezzlement, and it is from the conviction that the fine emanates. He had been handed a three-year jail term as well as the $32.9 million fine, with both sentences suspended. However, Obiang challenged the penalty only to have the Paris appeals court return a heavier sentence on Monday by removing the suspended provision from the fine. Th...
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