$upercar collection seized from African dictator's son

[intakexhaust]

Where might these end up?

Supercars of African dictator’s son seized again, this time a Veyron, Veneno and One:1

The supercar-loving son of Equatorial Guinea President dictator Teodoro Obiang Nguema Mbasogo has once again had his fleet of multimillion-dollar machines confiscated.

The latest collection includes a Bugatti Veyron, Koenigsegg One:1 and Lamborghini Veneno Roadster. Instagram user swisssupercars posted a short clip on Wednesday showing the cars loaded on the back of trucks and being carted away by Swiss authorities in Geneva.

Mbasogo’s son, Teodoro Nguema Obiang Mangue, officially the Vice President of the oil rich but poverty stricken Equatorial Guinea, made headlines in 2011 when French authorities seized his collection of supercars and other assets in a raid in Paris. That collection included a Bentley Azure, two Bugatti Veyrons, a Ferrari [NYSE:RACE] Enzo and 599 GTO, a Maserati MC12, and a Porsche Carrera GT. The entire collection was auctioned off in 2013 for just $4 million.

In the French case, Mangue is accused of using public funds to pay for his lavish lifestyle. He is also facing money laundering and other charges. Swiss authorities are working with their French counterparts in their own investigation but are yet to announce details regarding Wednesday's seizure.

Mangue and his father have also run into trouble with authorities in the United States, including having a mansion in Los Angeles seized. According to GT Spirit, Mangue is also no longer permitted to travel in the U.S. and France.

[Geronimo '74]

I recieved an email about that.
It seems his nephew needs my help to recover the amount of 14.3 million dollars from a Suisse numbered account. I am about to receive a sizeable reward of 10% or 1.4 million dollars...

[kach22i]

African dictator's Malibu-based son forced to hand back $30m in assets to people of Equatorial Guinea (but he's allowed to keep his prized Michael Jackson's crystal glove)
African dictator's son forced to hand back $30m in assets to people of Equatorial Guinea | Daily Mail Online

But he will able to keep singer's famous crystal-encrusted 'Bad Tour' glove

This is because item remains outside the U.S., alongside his 'Thriller' jacket

Jet: In addition to Jackson's glove and jacket, Mangue will be able to keep his Gulfstream jet (file picture)

Don't hate the player, hate the game.

[brp914]

In a piece on 60 Minutes, a Guinea official was asked how it it could be that this son could live so lavishly while the country was so poor. The official defended the son, describing him as a successful businessman. What was his "success"? Well, see, his dad the Pres awarded him the country's stock of forestland, which he promptly sold to a logging company which came in and mowed it all down. Sheer genius (no pun intended). Warren Buffet couldn't hold a candle to this guy.

[kach22i]

Originally Posted by brp914

In a piece on 60 Minutes, a Guinea official was asked how it it could be that this son could live so lavishly while the country was so poor. The official defended the son, describing him as a successful businessman. What was his "success"? Well, see, his dad the Pres awarded him the country's stock of forestland, which he promptly sold to a logging company which came in and mowed it all down. Sheer genius (no pun intended). Warren Buffet couldn't hold a candle to this guy.

That story is the story of life, isn't it?

Sad but true.

[Willem Fick]

Here in Africa the rules are different...