Forfeited EGuinea VP assets to be used by UN, NGO for health care

AFP | Some $26 million in assets forfeited by the son of the leader of Equatorial Guinea are to be used by the United Nations and an NGO to fund health care in the African nation, the US Justice Department said Monday.

The United Nations will receive $19.25 million to purchase and distribute Covid-19 vaccines and Medical Care Development International (MCDI) will receive $6.35 million for medicines and medical supplies to be sent to Equatorial Guinea, it said.

The funds stem from a civil forfeiture settlement involving Vice President Teodoro Nguema Obiang Mangue, whose father has ruled the oil-rich but poverty-stricken country since 1979, the Justice Department said in a statement.

In the civil forfeiture case, the United States alleged that Obiang had amassed more than $300 million worth of assets through corruption and money laundering.

Under a 2014 settlement agreement, Obiang was forced to sell a Malibu, California, mansion that he purchased for $30 million, a Ferrari automobile and various items of Michael Jackson memorabilia, according to the Justice Department.

“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 department said.

“Wherever possible, kleptocrats will not be allowed to retain the benefits of corruption,” Assistant Attorney General Kenneth Polite said.

A French court recently upheld Obiang’s conviction in France for accumulating luxury properties with illegally obtained funds, handing out a suspended three-year prison sentence and a 30 million euro ($35 million) fine.

Despite Equatorial Guinea’s oil riches, most of the central African country’s 1.4 million people live below the poverty line.

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4 comments

  1. What has stopped them, from jailing him? If this were Bah Acho, surely, he would
    have been long since in awaiting trial, turtured for years and surely killed without
    anyone seeing his corpse. Sure fact.

    • Hopefully it could have been Bah Achu .Bah is a traitor and a disgrace to Abakwa.

      • CAVANI,,,,that is an emotionally driven statement.say that bah acho is a traitor to abakwa because he said ambazonians should first have ask themselves the question,can they lose before taking up arms to confront younde.

  2. JOSHUA,,,,,this is nothing but trying to put smoke in our eyes with pure lies.is america for or against corruption?is it not america that invaded syria and started drilling and exporting syrian oil through turkey as images of russian settlites reveal?in his book the challenge of the congo kwame nkruma explains how america was maneuvering behind to out lumumba as leader of the congo.this is not curruption but pure banditism an american tradition.what happened to omar torijos the former president of pananma?how did he end up in a plane that exploded in the air?what happended to allende of chili?john perkins says in his book confessions of an economic heatman that all the military take overs in south america were organised by america.