HomeFINANCEBANKING & FINANCESouth Africa Seizes Equatorial Guinea VP's Superyacht, Homes Over Court Case

South Africa Seizes Equatorial Guinea VP’s Superyacht, Homes Over Court Case

Published on

-Advertisement-

Peter-Rhaina Gwokto (La'Kitgum) MA (APM), MHA, MBA, ACHE, CBAP on ... Equatorial Guinea’s Vice-President Teodoro Nguema Obiang.

South African officials reportedly seized a superyacht and two palatial homes owned by Equatorial Guinea’s Vice-President Teodoro Nguema Obiang in execution of a court order.

A court ordered the seizures after local businessman Daniel Janse van Rensburg won a lawsuit against Mr. Obiang for unlawful arrest and torture, according to the BBC.

He has demanded compensation of about $2.2 million (£1.8 million).

He says he was unlawfully detained in Equatorial Guinea for about 500 days after a business deal went wrong.

The Vice-President, the son of the world’s longest-serving ruler, has not yet commented on the case.

He and President Teodoro Obiang Nguema Mbasogo have long been accused of seeing oil-rich Equatorial Guinea as their personal fiefdom, and of abusing its wealth and resources.

This is the latest in a string of rulings issued against him by courts around the world.

“We attached two houses… in Cape Town in a formal application two weeks ago and the superyacht last Tuesday,” the BBC quotes lawyer Errol Eldson, who is representing the businessman, as having told AFP news agency.

He reportedly added that an application to auction the assets had been filed.

Mr. Van Rensburg has reportedly waged a lengthy legal battle against the Vice-President in the South African courts and published a book last year on how a business trip to Equatorial Guinea in 2013 “turned into a journey to the depths of hell” following his “harrowing incarceration” at the notorious Black Beach prison.

Mr. Eldson told AFP that his client had set up an airline in Equatorial Guinea with a local politician who withdrew from the venture at the last minute and demanded a financial refund.

The dispute led to the politician phoning Vice-President Obiang and “within 10 minutes” an elite security force unit “picked Daniel up and threw him into Black Beach prison”, the lawyer was quoted as saying.

Obiang is widely seen as being groomed by his father – who has been in power for 43 years – to succeed him.

Last month, he ordered his half-brother’s arrest over the sale of a jet.

His half-brother was alleged to have pocketed the proceeds of the sale. He has not publicly commented on the allegations.

The Vice-President – known for his lavish lifestyle – has also had his own brushes with the law.

In 2014, United States (US) authorities seized a $30 million mansion in Malibu and other assets, included a Ferrari car, saying they had been bought with the proceeds of corruption.

Two years later, Swiss prosecutors seized 11 luxury cars belonging to him. The cars – among them a Bugatti, Lamborghinis, Ferraris, Bentleys and Rolls Royce – were sold at an auction for about $27 million.

He was also fined and handed a suspended sentence by a French court in 2021 for using public money to fund a luxurious lifestyle in the European nation. He denied wrongdoing.

In the same year, the United Kingdom (UK) imposed “anti-corruption” sanctions on him.

Officials said that he had a collection of Michael Jackson memorabilia, including a $275,000 crystal-covered glove which the late singer had worn on his 1980s Bad tour.

The UK said that the new sanctions targeted individuals who had “lined their own pockets at the expense of their citizens”.

-All Rights Reserved-
Permission to use any material, including text, still photograph, audio and video from this site is granted subject to permission being formally sought and, if granted, appropriate credit must duly be given to The News Room as the source.

Latest articles

FULL LIST: Top seven best-paying European countries after tax

Across Europe, salaries can look impressive on paper, but what truly matters is how much workers actually take home after taxes.

Man City host Liverpool, Arsenal chase treble in FA Cup quarter-finals

Liverpool face a daunting trip to Manchester City in the standout tie of the FA Cup quarter-finals this weekend as Mohamed Salah seeks to end nine spectacular seasons at Anfield on a high.

Gunmen abduct Sokoto residents as police intensify rescue operation

The Sokoto State Police Command has confirmed a late-night bandit attack on Chacho community in Wurno Local Government Area, during which several residents were abducted, and others were injured.

Buffon quits Italy role following World ‘Cup play-off exit

Ex-Italy goal keeper Gianluigi Buffon has stepped down from his role as delegation with the Italy national team following the country’s failure to qualify for the 2026 FIFA World Cup.

More like this

FULL LIST: Top seven best-paying European countries after tax

Across Europe, salaries can look impressive on paper, but what truly matters is how much workers actually take home after taxes.

Man City host Liverpool, Arsenal chase treble in FA Cup quarter-finals

Liverpool face a daunting trip to Manchester City in the standout tie of the FA Cup quarter-finals this weekend as Mohamed Salah seeks to end nine spectacular seasons at Anfield on a high.

Gunmen abduct Sokoto residents as police intensify rescue operation

The Sokoto State Police Command has confirmed a late-night bandit attack on Chacho community in Wurno Local Government Area, during which several residents were abducted, and others were injured.