Supercars seized from crook and raffled off to other crooks for £22m

An auction for dozens of luxury motors seized from the son of Equatorial Guinea’s president following a money-laundering probe has raised more than £22m.

The 25 lots included a white-and-cream 2014 Lamborghini Veneno roadster that cost the buyer 8.28 million Swiss francs (£6.8m) with potential taxes still to be added.

The supercar – one of only nine produced – had been driven only 201 miles and has an official top speed of 223mph (359kmh).

Total proceeds from the sale beat the £15.2m authorities had hoped for

Total proceeds from the sale beat the 18.5 million francs (£15.2m) authorities had hoped to fetch for a charity to benefit the people of Equatorial Guinea.

Other cars sold included a yellow 2003 Ferrari Enzo for 3.1 million francs (£2.5m), and a 2015 Koenigsegg One:1 that fetched 4.6 million francs (£3.8m).

An armoured 1998 Rolls-Royce Silver Spur limousine, described as “perfect for someone with enemies” but requiring extensive work, sold for 86,250 francs (£70,000).

The auction comes after the Geneva prosecutor’s office announced it had closed a case against Teodoro Nguema Obiang Mangue, the son of the country’s president, Teodoro Obiang, and two others following a probe of money laundering and mismanagement of public assets.

The auction followed a case against Teodoro Nguema Obiang Mangue

Swiss authorities seized the cars and ordered the confiscation of a yacht in 2016.

The yacht was released in the arrangement announced in February, under which Equatorial Guinea agreed to pay Geneva authorities 1.3 million francs (£1m) “notably to cover procedural costs”, the prosecutor’s office said.

In February, it cited rules allowing prosecutors to close cases in which the person under investigation had “repaired the damage or done everything that could have been expected of him or her to make up for the wrong that was caused”.

The investigation involved authorities in the US, the Cayman Islands, France, Monaco, Denmark, the Netherlands and the Marshall Islands.

News from Sky News

Written by Dr Jamie Branson

I provide a broad spectrum of news to View TV News whilst taking stories from the public and allowing people to hear about the real news every day of the week. Check out more at https://viewtvnews.com

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