Swissinfo on 7th February reported that the Geneva Prosecutor’s Office has closed an investigation into Teodorin Obiang, the son of the president of Equatorial Guinea, regarding money laundering and mismanagement of public assets.  Equatorial Guinea has agreed to pay Geneva authorities $1.3 million in “procedural costs”, involving requests for legal assistance to the US, the Cayman Islands and Marshall Islands, France, the Netherlands, Monaco and Denmark.  A total of 25 vehicles seized in Geneva will be sold and the proceeds given to a social programme in Obiang’s home country.  In 2017, Obiang was sentenced to 3 years’ probation for embezzlement and corruption in France.–sells-off-luxury-cars-/44740962

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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