A Swiss financial case against Obiang will be settled by the acceptance of proceeds of a public auction.
Obiang, son and likely heir of Equatorial Guinea's authoritarian President Teodoro Obiang Nguema who has ruled for 40 years, reached a compromise in a case brought by Swiss authorities, where he does not admit guilt but a settlement occurs where his exotic automobiles get auctioned off as compensation "and restore a situation that is in conformity with the law."
Obiang is no novice when it comes to legal issues and the would-be playboy prince has faced similar charges in France and Brazil. Rumor has it when asked about the charges of malfeasance, he remarked "at least I gave up cooking missionaries in a pot like my ancestors did."
A collection of luxury cars seized from Equatorial Guinea's vice president Teodorin Obiang Nguema will be auctioned off in Switzerland on Sunday and are estimated to bring in £15.2 million.
"This is an exceptional sale," said Philip Kantor of British auctioneers Bonhams. "It's a private collection of supercars, with very low mileage."
Among the cars to go under the hammer at a Geneva golf club include seven Ferraris, three Lamborghinis, five Bentleys, a Maserati and a McLaren.
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