Continental Focus, International Reach

VP Forced to Give $30M to Equa G

Wednesday, October 22, 2014

Equatorial Guinea will see $30 million in assets returned after the son of the country’s president, Teodoro Obiang Nguema, as a result of a US Department of Justice ruling.

The settlement includes that Teodoro Nguema Obiang Mangue, who is also VP, sell his mansion in California, Ferrari, and most of his Michael Jackson memorabilia. The items that are sold will see proceeds benefit a charity for people of Equatorial Guinea. He will be allowed to keep the singer’s “Bad Tour” glove, “Thriller” jacket, and a $38.5-million Gulfstream jet because the items remain outside US borders. However, these items will be subject to seizure by the US government if they re-enter the country.


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