France Charges Teodorin with Money-Laundering

France Charges Teodorin with Money-Laundering

EG Justice 24 de Marzo, 2014
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The French Indictment against Teodorin Comes after a Three-Year Investigation.

EG Justice welcomes the French indictment issued against Teodoro Nguema Obiang Mangue, known as Teodorin, on charges of money-laundering.  The investigation to determine whether Teodorin bought assets in France with embezzled fundshas continued for three years.  It was initiated by a legal complaint lodged by a human rights group alleging Teodorin used public funds to buy luxury goods and other property in France.  In July 2013, French authorities issued an arrest warrantfor Teodorin in relation to the investigation, known as the “bien mal acquis” case.  French authorities have also previously seized some of Teodorin’s property located in Francein connection with the investigation, including luxury cars, real estate, and other property.

Teodorin’s lawyer continues to insist Teodorin’s position as Second Vice President for Defense and State Security in Equatorial Guinea provides diplomatic immunity, and shields him from prosecution.

Teodorin appeared before the French financial prosecutors via a video conference on March 19, 2014, where he was informed of the three counts of money-laundering against him.  The international arrest warrant issued in July 2013 was liftedafter his appearance.    

In addition to these charges, the United States Department of Justice currently has two cases pending, seeking civil forfeiture of assets it believes Teodorin purchased with money he laundered through US-based financial institutions.

For more information, please contact:

Tutu Alicante (English, French, Spanish): +1-615-479-0207 (mobile); or

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