Swiss to auction 25 luxury cars seized from Equatorial Guinea's vice president

Swiss to auction 25 luxury cars seized from Equatorial Guinea's vice president

- Collection of supercars seized from Equatorial Guinea's vice president, Teodorin Obiang Nguema, will be auctioned off in Switzerland

- The cars were taken by the Swiss government after Obiang was charged with money laundering and misappropriation of public property

- The collection has been tagged a super one and and do not have minimum reserve price

A collection of supercars that were seized from the son of Equatorial Guinea's president, Teodorin Obiang Nguema, will be sold off in Switzerland at estimated price $18.7 million.

Reutuers reports that Swiss prosecutors had in February charged Teodorin for money and misappropriation of public property.

Among the cars to be sold off are Ferraris, Lamborginis, Bentleys and Rolls-Royces owned by the vice president who is also the minister of agriculture will be displayed at Bonmont gold and country club in Cheserex ahead of the auction on Sunday, September 29.

Among the cars is the popular 2014 Lamboghini Veneno Roadster.
Among the cars is the popular 2014 Lamboghini Veneno Roadster.
Source: UGC

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The chairman of the of Bonhmas Motoring Department, James Knight, said that it is a great thing that they have a collection of cars from Geneva.

The collection of cars are tagged supercar collection and as such do not have a minimum reserve price in the bidding. They have also drawn interest from different places like Europe, the United States, Middle East, and Far East.

Most priced among the cars is a white 2014 Lamboghini Veneno Roadster which has the initials TNO and is valued at 5.2 million to 6.2 million Swiss francs.

“It is the first time such a car is being offered at public auction. Buyers want a car to have had few owners, a service handbook and a low odometer reading,” he said.

All of the 26 cars except one will not be subjected too import tax if they will in Switzerland as they have not paid tax in the country.

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Meanwhile, earlier reported that the Lagos zonal office of the Economic and Financial Crimes Commission arraigned Olalegbin Christopher over an alleged money laundering to the tune of N22 million.

Christopher was arraigned on Thursday, September 19, alongside his firms, Pentview Luxury Real Estate Management Limited and Gelbin Technology Limited, before Justice Oluwatoyin Taiwo of the Special Offences Court sitting in Ikeja, Lagos.

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