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Luxury Cars Seized From African Leader’s Son Are Auctioned in Geneva | Luxury Cars Seized From African Leader’s Son Are Auctioned in Geneva |
(about 11 hours later) | |
A fleet of supercars said to have been seized by the Swiss authorities in a money-laundering investigation involving the son of the leader of Equatorial Guinea was auctioned on Sunday in Switzerland. | |
The vehicles were among 25 luxury cars sold for more than $27 million at Bonhams auction house, according to The Associated Press, in what Bonhams called a “very special sale.” Beforehand, the cars had been estimated to bring in more than 12 million euros, or $13 million. | The vehicles were among 25 luxury cars sold for more than $27 million at Bonhams auction house, according to The Associated Press, in what Bonhams called a “very special sale.” Beforehand, the cars had been estimated to bring in more than 12 million euros, or $13 million. |
“The cars represent an international roll call of prestige and performance marques,” with models from Aston Martin, Bentley, Bugatti, Ferrari and Lamborghini, Bonhams said in a statement. | “The cars represent an international roll call of prestige and performance marques,” with models from Aston Martin, Bentley, Bugatti, Ferrari and Lamborghini, Bonhams said in a statement. |
Many of the cars once belonged to Teodoro Nguema Obiang Mangue, according to news reports, vice president of Equatorial Guinea and a son of its longtime leader. | Many of the cars once belonged to Teodoro Nguema Obiang Mangue, according to news reports, vice president of Equatorial Guinea and a son of its longtime leader. |
Mr. Obiang led an opulent and charmed life for years, spending a good amount of his time in a 100-room mansion on Avenue Foch in Paris, ordering bottles of Romanée-Conti Burgundies and driving his supercars. | Mr. Obiang led an opulent and charmed life for years, spending a good amount of his time in a 100-room mansion on Avenue Foch in Paris, ordering bottles of Romanée-Conti Burgundies and driving his supercars. |
In 2007, two nongovernmental organizations and an association of Congolese citizens abroad filed a criminal complaint accusing three African heads of state — including Mr. Obiang’s father, Teodoro Obiang Nguema Mbasogo, the country’s president for the past four decades — of embezzling state money to buy properties in France illegally. | In 2007, two nongovernmental organizations and an association of Congolese citizens abroad filed a criminal complaint accusing three African heads of state — including Mr. Obiang’s father, Teodoro Obiang Nguema Mbasogo, the country’s president for the past four decades — of embezzling state money to buy properties in France illegally. |
The authorities began seizing Mr. Obiang’s property in 2011, including, The Times reported, 11 luxury cars like two Bugatti Veyrons, among the most powerful and expensive cars in the world; a Mercedes Maybach; an Aston Martin; a Ferrari Enzo; a Ferrari 599 GTO; a Rolls-Royce Phantom; and a Maserati MC12. | The authorities began seizing Mr. Obiang’s property in 2011, including, The Times reported, 11 luxury cars like two Bugatti Veyrons, among the most powerful and expensive cars in the world; a Mercedes Maybach; an Aston Martin; a Ferrari Enzo; a Ferrari 599 GTO; a Rolls-Royce Phantom; and a Maserati MC12. |
Officials later seized property like the contents of a wine cellar. And in 2016, the Swiss authorities confiscated more cars as part of a corruption investigation involving President Obiang and ordered the sequestration of a yacht. According to Le Monde, the Obiang art collection included a Degas and five works by Rodin. | Officials later seized property like the contents of a wine cellar. And in 2016, the Swiss authorities confiscated more cars as part of a corruption investigation involving President Obiang and ordered the sequestration of a yacht. According to Le Monde, the Obiang art collection included a Degas and five works by Rodin. |
The younger Mr. Obiang was convicted of money laundering and embezzlement of more than $100 million by a Paris court in 2017, but the case has been appealed. Geneva prosecutor’s office announced in February that it had closed its case against him. | The younger Mr. Obiang was convicted of money laundering and embezzlement of more than $100 million by a Paris court in 2017, but the case has been appealed. Geneva prosecutor’s office announced in February that it had closed its case against him. |
The auction of his luxury car collection took place in a 12th-century abbey in the Bonmont Golf and Country Club in Geneva. | The auction of his luxury car collection took place in a 12th-century abbey in the Bonmont Golf and Country Club in Geneva. |
It featured scarcely seen models, including a white and cream Lamborghini Veneno, one of nine roadsters created to celebrate the company’s 50th anniversary. It was expected to go for at least $5.5 million but brought in $8.4 million, including fees. | It featured scarcely seen models, including a white and cream Lamborghini Veneno, one of nine roadsters created to celebrate the company’s 50th anniversary. It was expected to go for at least $5.5 million but brought in $8.4 million, including fees. |
Also on the block were a Koenigsegg One:1, one of only six models promoted as the world’s “first mega car,” partly because of its ability to produce more than one megawatt of power; and a barely used La Ferrari, described by its manufacturer as the “most ambitious” Ferrari. It had been driven just 621 miles. | Also on the block were a Koenigsegg One:1, one of only six models promoted as the world’s “first mega car,” partly because of its ability to produce more than one megawatt of power; and a barely used La Ferrari, described by its manufacturer as the “most ambitious” Ferrari. It had been driven just 621 miles. |
The State of Geneva offered the collection for sale, to be sold without reserve, Bonhams said in a statement. The proceeds were expected to be donated to a charity in Equatorial Guinea, an oil-rich but impoverished West African country. | The State of Geneva offered the collection for sale, to be sold without reserve, Bonhams said in a statement. The proceeds were expected to be donated to a charity in Equatorial Guinea, an oil-rich but impoverished West African country. |
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