Journalists, civil society groups, and members of the political opposition face heavy government repression.”. A limited edition LaFerrari with an estimate of up to €2.5 million is also up for grabs, while a 1,300-horsepower Koenigsegg One:1 -- of which just seven were ever produced -- is expected to fetch up to €2 million.

In 2007, two nongovernmental organizations and an association of Congolese citizens abroad filed a criminal complaint accusing three African heads of state — including Mr. Obiang’s father, Teodoro Obiang Nguema Mbasogo, the country’s president for the past four decades — of embezzling state money to buy properties in France illegally. Geneva prosecutor’s office announced in February that it had closed its case against him. 8: Lambo's Maurizio Reggiani, Lamborghini Huracan EVO RWD: Most Fun Ever, This Midengine V12 Lambo Gearbox Is in Back, Join a Lamborghini Club with 40 Members Worldwide, Here’s What it’s Like to Build Your Own Lambo Sian, Gallery: Lego Lamborghini Sian FKP 37 Build DIY. It appears this 2020 Chevrolet Corvette Stingray was crashed in Arizona. The prosecutor’s office said in an e-mailed statement to Reuters: “The Geneva public prosecutor confirms the opening of criminal proceedings against Teodorin Obiang. The vehicles were among 25 luxury cars sold for more than $27 million at Bonhams auction house, according to The Associated Press, in what Bonhams called a “very special sale.” Beforehand, the cars had been estimated to bring in more than 12 million euros, or $13 million. More than two dozen cars seized from Teodoro Nguema Obiang Mangue, the vice president of Equatorial Guinea, are set to be auctioned off later this … “Vast oil revenues fund lavish lifestyles for the small elite surrounding the president, while most of the population lives in poverty,” the group said. How it Went Down at the 88th 24 Hours of Le Mans, Nissan Z Proto Points the Way to New Sports Coupe, The Latest Rides from Genesis Are Properly Premium, Feast Your Eyes on Ferrari’s New Portofino M, This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. In 2012, French authorities seized a number of his vehicles and quickly auctioned them off, including a Bugatti Veyron Grand Sport, Maserati MC 12, Ferrari 599 GTO, Bugatti Veyron, Porsche Carrera GT, and more. Which Generation Of Porsche Cayman Is The Best? All rights reserved. A Porsche 918 Spyder … Among the set was a roadster version of the Lamborghini Veneno -- one of just nine produced to celebrate the manufacturer's 50th anniversary -- sold for an eye-watering $8.3 million. Lamborghini only ever built nine units of the Veneno Roadster, each with a starting price of $4.5 million and it’s entirely possible Obiang’s car will sell for more than that. Aston Martin’s DBX is now $13,000 cheaper, whereas the Vantage costs $7,000 less. He was handed a three-year suspended jail term for embezzlement by a French court in 2017, for, Marcello Gandini's radical automotive designs, Aston Martin DB5: James Bond car to fetch up to $6M at auction, Obiang also owns a yacht named Ice, which reportedly costs about $800,000 a month to maintain, according to an article in the. A Lamborghini Veneno roadster fetched $8.4 million on Sunday in Geneva. You may be able to find more information about this and similar content at piano.io. Mr Obiang is no stranger to such charges either, having previously been forced to sell a home in Malibu and another Ferrari in a settlement with the US Department of Justice. Also in the collection was a McLaren P1 which sold for $1.1 million, an Aston Martin One-77 sold for $1.5 million and a Bugatti Veyron auctioned for $1.3 million. Many of the cars once belonged to Teodoro Nguema Obiang Mangue, according to news reports, vice president of Equatorial Guinea and a son of its longtime leader. Anti-corruption groups have long accused him of embezzling his country's funds to finance his lifestyle. Stefano Domenicali will allegedly become the new F1 supremo before the start of next season. The auction of his luxury car collection took place in a 12th-century abbey in the Bonmont Golf and Country Club in Geneva.

Faith Karimi, Matou Diop and Evan Perez contributed reporting. A Porsche 918 Spyder was part of the collection owned by Teodoro Nguema Obiang Mangue. Also in the collection are a McLaren P1, an Aston Martin One-77 and a Bugatti Veyron. Vice president’s car collection auctioned following money laundering case.

Geneva police seized the fleet from a cargo area in the city's airport in 2016 after criminal proceedings were opened against Obiang. These cars and more were seized from Equatorial Guinea’s vice president Teodoro Nguema Obiang Mangue and will be auctioned in Switzerland. It was originally estimated to be worth more than $5.1 million. None of the cars has racked up more than a few thousand miles. Classic Ferrari 288 GTO worth over $2 million stolen on test drive. The State of Geneva offered the collection for sale, to be sold without reserve, Bonhams said in a statement. Several Ferraris, Lamborghinis, Porsches, McLaren’s and more went under the hammer following an investigation into Mr Obiang’s (sometimes known as Teodorin) involvement in money laundering and other corrupt activity. Jun 21, 2019 View Gallery 9 … Please try again. All of the cars were "sold on behalf of the State of Geneva and the proceeds are going to charity," Bonhams said in an email to CNN. Among the set is a roadster version of the Lamborghini Veneno adorned with the colors of the Italian flag -- one of just nine produced to celebrate the manufacturer's 50th anniversary -- which has an eye-popping estimate of more than €4.5 million ($5.1 million). These cars and more were seized from Equatorial Guinea’s vice president Teodoro Nguema Obiang Mangue and will be auctioned in Switzerland. There was an error submitting the form.