Equatorial Guinea: Vice President Obiang’s Asset to Defray Vaccine Payment

Equatorial Guinea: Vice President Obiang’s Asset to Defray Vaccine Payment (News Central TV)

Assets seized from Equatorial Guinea Vice President Teodoro Nguema Obiang Mangue, which the U.S. Department of Justice alleged Obiang obtained through corruption will be used for payment of vaccines.

$19.25 million will go to the United Nations to buy COVID-19 vaccines, $6.35 million will pay for medicine and medical supplies for Equatorial Guinea.

The DOJ said Obiang used his position as minister of Agriculture and Forestry in 2011 “to amass more than $300 million worth of assets through corruption and money laundering, in violation of both U.S. and Equatoguinean law.”

Teodoro Obiang Nguema, the son of Equatorial Guinea’s President Teodoro Obiang and the country’s vice-president

In a 2014 settlement agreement, Obiang was required to sell a $30 million mansion in Malibu, California, a Ferrari automobile, and “various items of Michael Jackson memorabilia,” DOJ said.

Your Friends Also Read:  General Burhan sworn-in as President of Sudan's new sovereign council

“As provided in the agreement, $10.3 million of these settlement funds were to be forfeited to the United States, and the remaining settlement funds would be distributed to a charity or other organization for the benefit of the people of Equatorial Guinea,” the DOJ news release said.

France also convicted Obiang for the purchase of luxury properties with illicit funds. He was given a suspended three-year sentence and fined $30 million.

Leave your vote

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Nigerian Stock Exchange to complete public listing

Contact: digital@newscentral.ng

Previous Article

Egypt Receives Over 500k Doses of Astrazeneca Vaccine from France

Next Article
Burundi Grenade Blasts Kill Five, Leaving Fifty Wounded (News Central TV)

Burundi Grenade Blasts Kill Five, Leaving Fifty Wounded

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.