US Looks to Seize Property Stolen by Son of Equatorial Guinea President

Posted October 25th, 2011 at 4:20 pm (UTC-5)
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The U.S. Justice Department has filed two separate suits aimed at seizing $71 million in property allegedly stolen by the son of Equatorial Guinea President Teodoro Obiang.

U.S. authorities allege that Teodorin Obiang used his job as a government minister to embezzle, steal and extort more than $100 million from Equatorial Guinea and launder the stolen proceeds in the United States.

Officials say Obiang lives a well-to-do life while his people struggle. They say that despite a modest government salary, Obiang owns a $38 million jet, a $30 million house in California, a $530,000 Ferrari car, and about $2 million in Michael Jackson memorabilia.

Justice Department officials say they will not let the United States be the hiding place for ill-gotten riches of corrupt leaders.

Equatorial Guinea is rich with oil, but most of its population lives in poverty and suffers from human rights violations.