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Swiss auction of the son of Equatorial Guinea's supercars



  Luxury cars are auctioned in the Swiss village of Cserex, near Geneva

A collection of supercars confiscated by the son of the President of Equatorial Guinea is auctioned in Switzerland.

The cars were seized by the Swiss authorities as part of an investigation into Theodorin Nguema Obiang.

He is the Vice President of his father, Theodoro Obiang Nguema, who has ruled Equatorial Guinea for 40 years.

Twenty-five of Mr. Obiang's cars were hammered at a golf club near Geneva on Sunday.

Cars, including Lamborghinis, Ferraris, Bentleys and Rolls Royces, totaled about $ 27 million (21

.9 million pounds; 26 million Swiss francs). ,

According to the deal, prosecutors will spend about $ 23 million on social projects in Equatorial Guinea, a former Spanish colony where poverty is curtailed.

One of the rarest and most remarkable cars, the 2014 Lamborghini Veneno Roadster,

This is the new world record price for the Lamborghini auctioned, said British auctioneers Bonhams.

The price of a hammer for a 354 km / h (220 mph) car presented at Lamborghini's 50th Anniversary celebrations was about 50% higher than its estimate before the sale.

The Aston Martin One-77 coupe, described as an "absolute rocket ship" by the auction house, went for $ 1.5 million.

"Cars like this would be the jewel of any collection, but having them all together is really extraordinary," Lini Farant, a Bonhams dealer, told the BBC.

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Lamborghini Veneno Roadster, part of a collection of luxury cars owned by Theodorin Nguema Obiang

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Reuters

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The cars were seized by Swiss prosecutors as part of an investigation into Theodorin Nguema Obiang

Cars have attracted interest from collectors around the world, especially in Europe, said Mrs Farrant.

Several supercars have been purchased by a collecting agent in Dubai, United Arab Emirates, the Swiss news agency told Reuters. [19659007] About 50 other cars were auctioned in the Swiss village of Cserex, 30 km from Geneva.

Aston Martin Lagonda since 1956, owned by the late Claude Nobbs, founder of the Montreux Jazz Festival, was among them.

Who is Theodorin Nguema Obiang?

Mr Obiang is regarded as the heir to his father, who has been president since 1979.

The 51-year-old served as his father's advisor and minister of agriculture before being appointed vice president in 2012. .

In international media reports, Mr. Obiang criticized his extravagant spending habits and the way he plays playboy.

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AFP

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Mr Obiang is known to share his fiery lifestyle on social media

In a 2004 article, the New York Times described him as "a rap musician and bon vivant, a Lamborghinis lover and long journeys to Hollywood and Rio de Janeiro."

Swiss prosecutors are investigating Mr Obiang for money laundering. and misuse of public funds, but terminated the case in February this year.

Prosecutors said they completed the investigation into Mr. Obiang as part of a deal to sell his cars to fund social programs in his country.

In 2017, a French court handed him a three-year suspended sentence for corruption.


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