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The UK is using financial sanctions against the son of the president of Equatorial Guinea

The UK is using financial sanctions against the son of the president of Equatorial Guinea

Theodore Obiang Mangu, 53, is being punished for embezzling government funds and committing fraud in personal bank accounts, making corrupt deals and soliciting bribes, the foreign ministry said.

According to the British government, “Theodore’s lavish lifestyle, as he was known,” did not match his official salary as a government minister “.

In addition to the $ 100 million mansion in Paris (85 85 million at current exchange rates) and the $ 38 million (மில்லியன் 32 million) private jet, he would have bought dozens of luxury cars, including a luxury yacht, Ferraris, Pendilis and Aston. The collection, which is owned by Martins and singer Michael Jackson, features a $ 275,000 glove coated with crystals used on the “Bad” album tour.

In February 2020, Theodore Obiang Mangu was sentenced to three years in prison and fined the French government 30 million euros for improperly acquiring substantial assets in France with money taken from Kionia’s treasures.

The African nation, a member of the Portuguese Language Countries Association (CPLP), is led by 79-year-old Theodoro Obiang, who has ruled for 42 years from 1979.

According to French justice, the judges estimate the money laundering in the order of 160 million euros.

In Switzerland, its 25 large-capacity cars were confiscated and sold for $ 21 million, after which they were donated to a community relief program in Equatorial Guinea.

Others included in the UK’s sanctions list today include Zimbabwean businessman Gudgawashe Regiment Daguerre, whose treasury speculation sparked the country’s currency crisis, Venezuelans Alex Nine Saab Moron and Alvaro Enrique Pulido Vargas for abusing public projects and malpractice for want of corrupt rule. Al-Sultan.

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Foreign Minister Dominic Robb said they “filled their own pockets at the expense of their citizens.”

“The UK is committed to fighting the scourge of corruption and keeping those responsible for its erosive effects. Corruption reduces the wealth of poor countries, traps its people in poverty and poisons the well of democracy,” he lamented in a statement.

Sanctions include a freeze on assets and travel to the country, as previously used by 22 leaders and others in countries such as Russia, South Africa, South Sudan and Latin America.