www.hotcars.com

Corrupt Equatorial Guinea Vice President Has 25 Seized Exotic Cars Sold At Auction

Swiss authorities seized 25 luxury and high-performance vehicles from a corrupt African official and sold them all for charity.

Bonham Auction 2

The vice president of Equatorial Guinea has had 25 of his seized exotic cars sold at an auction in Switzerland.

His name is Teodorin, and he's the son of Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, who has ruled the country for the past four decades. We're sure nepotism had nothing to do with how Teodorin got the job.

Equatorial Guinea is ranked 172nd out of 180 countries on the World Corruption Index, which is a pretty good indication of what Teodorin has been up to. But just in case that's not clear, Teodorin is implicated in at least three money-laundering operations in three different countries around the world.

The Swiss money-laundering investigation involved Swiss authorities seizing 25 cars and a yacht back in 2016. They got the yacht back after paying $1.3 million, but the cars were just a little too rich for their blood. So, Swiss officials auctioned them off at the Bonhams auction in Geneva on Sunday.

RELATED: eCOPO Electric Camaro Fails To Sell At Auction, Proving Nobody Wants A Camaro

Over $27 million was raised for charity, with the biggest winner being a white 2014 Lamborghini Veneno Roadster which sold for 8.28 million francs, or roughly $8.3 million USD. That car was part of a three-way bidding war, according to Reuters, which caused its final price to shoot up over its initial pre-sale estimate.

via Reuters

Other vehicles included a 2011 Aston Martin One-77 Coupe, which sold for $1.6 million, and a 2015 Koenigsegg One which sold for $4.6 million.

And because the place is basically an African dictatorship, a grey armored 1998 Rolls Royce Silver Spur was also being offered. It was described by the auctioneer as "perfect for someone who doesn't have any friends or has enemies."

In addition to being under investigation in Switzerland, Teodorin is also sought in a $16 million laundering operation in Brazil involving undeclared cash and luxury watches. He was also convicted of embezzlement in Paris back in 2017, although that case is currently under appeal.

NEXT: In A Sign That Toyota Supra Might Be A Flop, First Auction Fails To Sell

Move Over Tesla Fans, The Porsche Taycan Is Worth Buying
Comments