Ill-gotten gains in Equatorial Guinea: the conviction of Teodorin Obiang confirmed in France
The vice-president of Equatorial Guinea, Téodorin Obiang, in 2012. ABDELHAK SENNA AFP / File
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The Court of Cassation rejected, this Wednesday, July 28, 2021, the appeal filed by Téodorin Obiang.
The son of the President of Equatorial Guinea challenged his conviction in France for embezzling public funds in his country.
His defense considered that the French justice did not have to rule on crimes committed abroad, but the Court of Cassation therefore decided otherwise.
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The highest French court
considered that the decision rendered by the judges was indeed in accordance with the law. French justice could therefore rule on these embezzlements even if they took place abroad. Concretely, this means that the conviction on appeal of Téodorin Obiang is confirmed: he will therefore have to pay a fine of 30 million euros and will be sentenced to three years in prison suspended for laundering of misuse of corporate assets and embezzlement of public money.
In addition, Equatorial Guinea could become the first country to benefit
from the new mechanism for restoring ill-gotten assets
.
Last week, the French deputies adopted this device which makes it possible to return to the populations the receipts of the confiscated goods.
In the case of Téodorin Obiang, his assets - estimated at 150 million euros - will be auctioned and the money collected will be used for development actions in Equatorial Guinea.
Note, however, that there is a possible last resort for Téodorin Obiang.
He can apply to the European Court of Human Rights.
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Equatorial Guinea
France
Justice
Teodoro Obiang Nguema