22nd July, 2021
*Sanctioned by UK for lavish lifestyle
Teodoro Obiang Mangue, son of Equatorial Guinea long serving president, has no inhibitions splashing the cash as he did when he bought a glove worn by Michael Jackson at $275,000, about N113M.
Britain is exasperated by his excesses and on Thursday sanctioned him for misappropriating millions of dollars which London said was spent on luxury mansions and private jets.
Foreign Secretary Dominic Raab said Obiang Mangue, who is also vice president of Equatorial Guinea, had participated in “corrupt contracting arrangements and soliciting bribes, to fund a lavish lifestyle inconsistent with his official salary as a government minister”.
Britain said Obiang had bought a $100 million mansion in Paris, a $38 million private jet, a luxury yacht, and dozens of luxury vehicles including Ferraris, Bentleys and Aston Martins.
The foreign ministry said he also bought “a collection of Michael Jackson memorabilia including a $275,000 crystal-covered glove that Jackson wore on his “Bad” tour.
France seized many assets of Teodoro Obiang Mangue two years ago.
His father President Teodoro Obiang Nguema Mbasogo has ruled Equatorial Guinea since taking power in a coup in 1979, eleven years after independence from Spain.
The country grew rich in the past few decades due to the exploitation of its oil reserves, but more than 76% of the population live in poverty, according to the World Bank.