On September 29, 2019, the Swiss authorities are set to auction 25 exotic cars seized from the Vice President of Equatorial Guinea, Teodoro Nguema Obiang Mangue, who is also a son of the country’s president, Teodoro Obiang Nguema Mbasog.
The 25 high-end cars which include Bugatti Veyron, Aston Martin One-77, Ferrari LaFerrari, Koenigsegg One:1, Rolls-Royces, McLaren P1, Lamborghini Veneno Roadster, Bentleys and Ferrari, were impounded by the Swiss government in 2016, following investigations by French authorities pertaining to the misappropriation of funds belonging to the state.
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According to reports, all proceeds made from the auction will be channeled to social initiatives in Equatorial Guinea especially as 76% of the country’s 1.2 million population are languishing in poverty.
The vice president emerging from one of his cars
Back in 2011, French authorities seized a different set of hyper cars including a Porshe Carrera GT, Ferrari Enzo and two Bugatti Veyrons, which were later sold for $4 million in 2013.
Teodoro Nguema Obiang Mangue, 50, got into trouble with the Brazilian authorities when he tried to enter the country with $16 million (N5.8 billion) in cash against the $2,400 cash which the country’s law permits visitors to enter its territory with.