Featured Equatorial Guinea

Equatorial Guinea argues luxury Paris mansion was part of embassy when raided

Equatorial Guinea argued on Monday that a luxury mansion in central Paris used by the son of the country’s president was protected by diplomatic immunity when it was raided by French authorities in 2012. The case at the International Court of Justice is seen as a test for the limits… Read More

Equatorial Guinea’s playboy vice president given £25m fine in ‘ill-gotten gains’ appeal verdict 

The son of Equatorial Guinea’s leader and its vice president, notorious for his colourful lifestyle and lavish spending, was handed a three-year suspended jail sentence and a €30m (£25m) fine for graft by a Paris court on Monday, confirming his guilt in one of a string of high-profile “ill-gotten gains”… Read More

World’s Longest-Serving Ruler Must Reveal His Assets for an IMF Bailout

Equatorial Guinean President Teodoro Obiang Nguema Mbasogo, the world’s longest-serving ruler, must declare his assets before the nation receives more financial support, according to the International Monetary Fund. The central African nation needs an IMF bailout to deal with a crisis that shrank its economy by a third to $13… Read More
7th October 2019
Judging by the fleet of supercars parked in the grounds of Geneva’s Bonmont Golf and Country Club last Sunday, Teodorin Obiang was not overly fussed by the size of his carbon footprint. There were 25 in total, representatives of every luxury model conceivable, from Aston Martin to Bugatti and Ferrari,… Read More
30th September 2019
AP — Car lovers from around the world splashed out more than $27 million at an auction Sunday for dozens of luxury cars seized from the son of Equatorial Guinea’s president in a Swiss money-laundering probe. The 25 lots sold by auction house Bonhams included a white-and-cream 2014 Lamborghini Veneno roadster… Read More
10th September 2019
Efforts by the Bank of Central African States (BEAC) to tackle money laundering and restock woefully thin foreign exchange reserves are causing dire currency shortages and delays to transactions across the six-nation currency union, businesses say. New BEAC rules introduced in June are aimed at bringing order to a monetary… Read More
20th February 2018
France asked the World Court on Monday to throw out a case launched by Equatorial Guinea, saying the African country was wrongly using the court to shield the son of its ruler from prosecution in France following a corruption investigation. The case before the United Nation’s highest court, formally known… Read More
30th October 2017
FRANCE 24, AFP A French court handed down a three-year suspended jail term on Friday to Teodorin Obiang, the son of Equatorial Guinea’s leader and who serves as vice president, after a landmark graft trial that lifted the lid on his playboy lifestyle. The 48-year-old, who was tried in absentia,… Read More
20th June 2017
In the first case in France brought by civil society in France Teodoro Nguema Obiang Mangue, the son of the president of Equatorial Guinea, is on trial for corruption. It has taken a decade of arguments, a change to French law and a crowdfunding campaign to ensure the witnesses could travel… Read More
9th February 2017
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by… Read More
2nd February 2017
If the Senate approves, it could change how multinationals deal with foreign governments. Read More
26th January 2017
In the final part of an exclusive series of four webinars Elise Bean, former Staff Director and Chief Counsel of the U.S. Senate Permanent Subcommittee on Investigations, will explore the case of Riggs Bank. Riggs, a D.C. based commercial bank with branches around the world, was effectively shut down by means of a merger in 2005 following revelations that it handled deposits from Augusto Pinochet, the Saudi royal family and the dictator of Equatorial Guinea among others. Elise will consider what can be learnt for the case for financial crime prevention regimes today. Read More
2nd January 2017
Teodorin Obiang, accused of plundering $115m, owns luxury properties, yachts, cars – and Michael Jackson’s crystal glove. Read More