Switzerland put supercars seized by the son of the African president

In Switzerland, a collection of luxury cars seized from the Vice President of Equatorial Guinea will be auctioned on Sunday and is expected to earn CHF 18.5 million

Posted  76 Views updated 2 months ago

"This is an extraordinary sale," British auction house spokesman Philip Kantor told EXE News. "This is a private collection of very low mileage supercars."

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Among the twenty-five cars to be auctioned at the Geneva Golf Club are seven Ferrari, three Lamborghini, five Bentley, one Maserati and one McLaren.

The most expensive are the Lamborghini Veneno Roadster, valued at 4.8 to 5.7 million euros, and the yellow Ferrari hybrid, priced at 2.4 to 2.6 million euros.

The cars were confiscated by a Swiss court in 2016 as the financial irregularities case against Vice-President of Equatorial Guinea Teodorin Nguema Obiang began.

The accused is the son and likely successor of President Teodoro Obiang Nguema, who has ruled over the African country for 40 years.

In February, Swiss prosecutors announced they would drop charges of financial misconduct filed by Teodoring Obiang Nguam but seize luxury cars during trial.

Under the Swiss Penal Code, prosecutors have the freedom to opt out of this category of prosecution if the defendants offer compensation "and restore a situation that is in accordance with the law".

Equatorial Guinea has agreed to pay Geneva CHF 1.3 million in litigation costs.

As the Vice-President of Equatorial Guinea, Theodorin Obiangi, responsible for defense and security, has sent a reputation for being a man of luxury.

Photos: Switzerland sells supercar seized by African president's son In Switzerland, a collection of luxury cars seized from Vice-President of Equatorial Guinea is expected to be auctioned on Sunday and is expected to earn CHF 18.5 million.

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