AN INTERNATIONAL arrest warrant is being sought for the son of Equatorial Guinea’s president Teodoro Obiang Nguema on money laundering charges.
Two French judges, Roger Le Loire and Rene Grouman, consider there are grounds to suspect that Teodorin, who is agriculture minister in the small oil-rich central African country, acquired property in France by fraud.
…The French judges, who have been handling the case since 2010, on the basis of “concealment of embezzled public funds”, suspect that the properties were purchased with public money from Equatorial Guinea.
As part of the investigation, French police raided a building belonging to Equatorial Guinea in a wealthy area of Paris in February. After three days they removed art works and fine wines worth several million euros.
The building was valued at about €150 million (£125m) and investigators say it housed a nightclub and hairdressers, suggesting it was not being used as a diplomatic residence.
In October last year, 11 supercars worth up to £5m were seized by investigators from outside a Paris mansion belonging to Teodorin.
The vehicles, which included two Bugatti Veyrons, a Ferrari 599 GTO and a Maserati MC12 were all registered in his father’s name.
Detailed news link: here