|Najib and Rosmah on board the TATOOSH|
Teodoro Obiang seized power through a bloody coup in 1979 and for the past 32 years has presided over a despotic government notorious for its flagrant disregard for human rights, oppression of journalists and extreme levels of corruption. The bulk of the country’s wealth is sourced primarily from its oil revenues generated by multinational oil companies like ExxonMobil, but is unevenly distributed among the President, his family and close associates. The rest of the population suffers in silence.
As president of Equatorial Guinea, Teodoro Obiang Nguema under his country's 1982 constitution, has extensive powers - including naming and dismissing members of the cabinet, making laws by decree, dissolving the Chamber of Representatives, negotiating and ratifying treaties and serving as commander in chief of the armed forces.
During the three decades of his rule, Obiang has shown little tolerance for opposition. Elections have generally been considered a sham.
An African Dictator's Son And His Very Lavish Toys
|Teodorin Obiang and a Female Friend.|
Teodorin Nguema Obiang, is the 41 year-old son of the country’s President. Global Witness did a report on how the eccentric playboy splashed $20 million of suspect funds to purchase art from the estate of the late Yves Saint Laurent. Global Witness had already reported on his high spending ways: back in 2006, it detailed how the dictator’s son spent over $30 million to acquire a mansion in California. The story can be found here: http://www.globalwitness.org/library/african-minister-buys-multi-million-dollar-california-mansion.
Teodorin, who serves as Equitorial Guinea’s minister of Forestry and Agriculture (even though he spends very little time in the country), is one of Africa’s most lavish spenders. Over time there’s been plenty of evidence of his outrageous spending from various sources. In 2006, a journalist from the Sunday Times of London reported that Teodorin, during a weekend in South Africa spent nearly $1.5 million on two Bentleys — an Arnage T and a Mulliner — and a Lamborghini Murcielago as well as two luxury houses.
So, while his official salary as a minister stands at a modest $6,500 a month, he is apparently able to afford:
- Two lavish homes in Capetown, South-Africa
- Homes in Buenos Aires, Argentina, London and the wealthy 16th arrondissement of Paris
- A mansion in Malibu, California that reportedly cost over $30 million
- A car collection that includes a Bugatti Veyron, a Lamborghinis Murcielago, 2 Bentleys- an Arnage T and a Mulliner and an Aston Martin Vanquish
- A Gulfstream V Jet that reportedly cost $35 million
- An art collection purchased from the estate of the late Yves Saint Laurent, which sources say is worth $20 million
Teodorin loves the finer things in life. In 2006 he staged a Christmas party for his girlfriend at the time, Grammy award-winning Hip-hop act, Eve, aboard Tatoosh, the 300-foot yacht owned by Microsoft billionaire, Paul Allen, spending over $400,000 to rent the boat.
Teodorin is currently being groomed to replace his father as Equatorial Guinea’s next president.
Today 11 Supercars that belonged to Teodoro Obiang Nguema Mbasogo, president of Equatorial Guinea, have been seized in Paris by the French National Police. Among the cars seized by the French police were two Bugatti Veyrons, a Maserati MC12, a Porsche Carrera GT, a Ferrari Enzo and a Ferrari 599 GTO. The supercars were seized at Teodoro Obiang Nguema Mbasogo’s Parisian residence at 42 Avenue Foch, just a stones throw away from the Arc de Triomphe.
The reason why the 11 cars including two Bugattis, Ferraris and Bentleys with a total value of over 5 million dollars were seized by the French National Police are unclear but it could have something to do with wide spread investigations into the Equatorial Guinean president and in particular the use of state funds to buy private property in France.
The Supreme Court of France accepted the appointment of an investigating judge and the opening of a judicial inquiry into claims that the President has used state funds to purchase private property in France. Equatorial Guinea is rich in oil but despite its rising revenues from oil, poverty in the country is still widespread and credible allegations of high-level corruption, including by Obiang and his eldest son, are the subject of judiciary investigations around the world. His son is the owner of one of the most expensive houses in Malibu, California at 3620 Sweetwater Road.
steadyaku47 comment : Sounds familiar? This Equatorial Guinea Dictator has only one country, France, going after him. Najib Razak has seven countries going after him! Enough said!