An auction house in Switzerland is set to sell 25 luxury cars including Ferraris, Rolls-Royces and Lamborghinis that Geneva authorities seized from the son of Equatorial Guinea's president in a money-laundering probe.
Swiss authorities say the sale Sunday by auctioneer Bonhams is expected to fetch some £15.2 million (18.5m Swiss francs), with the proceeds going to a charity to benefit the people of oil-rich Equatorial Guinea.
The sale is taking place at the Bonmont Golf & Country Club in Cheserex near Geneva, Switzerland
The auction comes after the Geneva prosecutor's office announced in February it had closed a case against Teodoro Nguema Obiang Mangue, the son of the country's four-decade president, Teodoro Obiang, and two others following a probe of money laundering and mismanagement of public assets.
Swiss authorities seized the cars and ordered the sequestration of a yacht in 2016.
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God bless the decision makers of Switzerland. If this discipline continue, African leaders would not steal from the people for their families good. They cheated the poor for far too long and its time they put a stop to satanic amassement of state wealth. Keep tracking the families of leaders in Africa to help grow Africa whilst giving life to the vulnerable, poor and needy