Equatorial Guinea: Luxury Cars Seized from African Leader Auctioned

Photo: Bonhams
The Lamborghini Veneno Roadster shown on the website of auctioneer Bonhams.

A fleet of luxury, high-performance cars seized from the son of Equatorial Guinea's president have been auctioned off for more than $23 million.

The 25 cars were seized by Swiss authorities after an investigation into money laundering. They once belonged to Teodoro Nguema Obiang Mangue, who is also vice president to Equatorial Guniea's 40-year ruler President Theodora Obiang.

Among the cars sold Sunday were Lamborghinis, Ferraris, Bentleys, Rolls Royces and a McLaren.

A rare white Lamborghini Veneno Roadster, one of only nine built, sold  for $8.3million to an anonymous buyer.

Proceeds from the auction will go to a charity to fund social programs in the tiny oil-rich Central African country.

Obiang's luxury lifestyle has draw foreign ire before. Last year, Brazilian officials seized $16 million in cash and high-end watches from a delegation traveling with Obiang.

He was given a three-year suspended sentence by a French court for spending millions of dollars of public funds on a Paris apartment, a private jet and a fleet of luxury cars.

Earlier, he entered into a $30 million settlement with U.S. authorities who accused him of using looted public funds to buy a California mansion and a vast collection of Michael Jackson memorabilia, including the crystal-encrusted white glove from Jackson's "Bad" world tour.

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