Supercars confiscated in Switzerland...

I'm perfectly aware of the two different countries. Equatorial Guinea is a bit long to write ahah

I was more referring to Tunisia.

Obiang father doesn't have Assad's firepower. An angry mob can overthrow him

 

Thank you both. So shame about the cars.. What are they going to do with the cars now? Auction?

 

See post #8.

Marcel Massini

 

Marcel, thank you for this. Speaking of seizure/auctions, just wondering if you had any more on the Duemille Ruote cars, their stories, etc? You started an interesting thread on these in Vintage, though the auction includes Ferraris from almost every era, but there hasn't been much on it since.
Darius

 

I read that the proceeds of the french auction (enzo, veyroj, rr, etc..) went to the french state. So the french state also stole from the Eq Guinea people.

 

The French love pinching cars from people, as do the Swiss, look at the draconian penalties for speeding - confiscation, crushing etc..... when I run through France I carry extra number plates, and have never driven in Switzerland, which is a shame, as it's so beautiful, but couldn't take the risk

 

Then you are reading papers that are not serious, because this is simply not true. Change papers, or read the official publications (link enclosed hereunder) instead of believing such nonsense.

When auctions are taking place before the case is judged, the proceeds are placed in an escrow account, open with the Caisse des Dépôts et Consignations, where they are waiting for the definitive decision of the justice, which will decide what to do with the money.
May I also remind you that in the case of Theodorin Obiang and Equatorial Guinea, the plaintiff is an International NGO, Transparancy International, by its french branch, and I believe these are people than you can trust for not letting the french state pinching these moneys?
Reading the official publication from the ministry of justice, you will also learn that auctions are ordered before the judgement when it appears that the objects to be auctioned may lose value if left without regular maintenance.

Justice / Portail / AGRASC

Rgds

 

More property has now been confiscated, this time the 76 meters long yacht "Ebony Shine" (in the Netherlands):

Teodorin Obiang se fait saisir son yacht | L'Hebdo

This is one of two yachts, the other one is a bit bigger, named "Ice", and appears to be in Morocco currently, it is valued at US$ 150 M.

Marcel Massini

 

Equatorial Guinea's VP Obiang on trial in France - BBC News

 

Was ready to post the link but you guys are on top of that. Another despote 2 bits crook nabbed. These jerks give a bad names to exotic car admirers. While i dont like Fracne policies on automotive at all, in case of seizure of crooks cars, I think they dont go fast and far enough.
Hope they get the yatchs, the fancy Paris properties (which same crooks buy over price with their people money and make Parisien life unaffordable) etc and give the proceed to feed the starving population.
That crap is what ultimately will bring the world down just like the French revolution where good heads rolled with bad ones anyway.
Another black eye for the switz lawyers and financiers who clearly put profits above ethics. Disgusting.

 

Honest question, what's the gripe of Switzerland and France with him? There is plenty of clear corruption money being thrown around and being deposit invested thru Europe (and US), from other African leaders offspring that isn't even questioned, why do they go so hard on this guy?

 

Just to make a political statement that they are against what he and his father's government stand for. This guy was likely just too far over the top in his life style. Also Switzerland has been much criticized as being a haven for political crooks and money laundering by the US and other nations. The Swiss banks have already caved in on private numbered accounts to the US government a couple years ago.

Having been bank director of a US bank the FDIC and OCC regulators are all over any type of perceived money laundering. Not saying it doesn't happen in the US but the US regulators are very actively looking for any misconduct.

 

For those that are unaware Equatorial Guinea is the 2nd or 3rd largest oil/natural gas exporters in sub-Saharan Africa. Huge, huge money with a relatively small population (as compared to Nigeria).

An elected dictator that has a piece of everything that is valuable. But there is far more corrupt in Africa than he (as told to me by someone from another African government).

Was in Malabo during the African National Conference several years back. The Obiang family/government had made sure that the new 5 star Hilton was functional for the event; they own it.

Do not expect any general populace uprising. The fear would be if some in the inner circle want to change their personal cut of the action.

 

Too true.

 

Yep so youre good with the Sultan of Brunei having kept the supercar makers afloat for many years. Or many a middle eastern ruler. Well i guess int he middle east the poepel get some crunmbs of the pie so its all OK.

I am not defending Oibang, but is he worse than otehrs who geta free pass because it suits the west?
This is the rank hypocracy of the west and the thing so many Africans hate, our assumed Moral superiority. The only reason these cases are going ahead is because the Euro countries and the Us have different oil interests so are intent on squeezing Oibang out. Does anyone ehre belive that a NGO coudl get anywhere if the statal entities had any interest in keeping Oibang

 

Yesterday the highest Swiss court in Lausanne (Federal Court) has published his final decision confirming that the 24 supercars of Teodorin Obiang remain confiscated. The cars include an Enzo, LaFerrari, F12 tdf, 599 GTB, and many other sportscars and makes. Obiang has been accused of money laundering and various other crimes.
I assume that sooner or later all 24 sportscars will be publicly auctioned but it may take a few years until then.
Following claims by the State of Equitorial Guinea against Geneva state attorneys and Geneva authorities three court decisions were issued. The claims had stated the cars were property of the State of Equitorial Guinea and had been in Switzerland for repairs and official duties.

Marcel Massini

 

Maybe i'm wrong Mr Massini, but the Enzo and the F12 TdF will be a bargain in the auction..

 

Not even sure if there will ever be an auction.
And if so, it might be in five or more years. Nobody knows how the market will be by that time. Nobody has a crystal ball.

Marcel Massini

 

Lol "Official Duties"

 

Latest:


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PRESS RELEASE

For immediate release

French/German/Italian versions and images available here:

https://bonhams.box.com/s/lbr4z48erpn4pkiqaggd2offtl0aa8ed





17 June 2019



BONHAMS RETURNS TO SWITZERLAND

WITH NO RESERVE SUPERCAR SALE



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Bonhams, the leading international auction house, will be returning to Geneva on Sunday 29 September, for a very special sale, featuring a private collection of 25 supercars, hypercars and luxury motor cars – all to be offered without reserve – to be presented at the prestigious Bonmont Golf & Country Club.



The sale will take place in a 12th century abbey, which is next to the Clubhouse, a former chateau overlooking Lake Geneva. It will provide a spectacular backdrop for the sale of such a superb array of high performance and prestige motor cars.



The collection is estimated to realise in excess of €12,000,000, (£10,000,000, $13,000,000).



The cars represent an international roll-call of prestige and performance marques: Aston Martin, Bentley, Bugatti, Ferrari, Koenigsegg, Lamborghini, Maserati, Mercedes-Maybach and Porsche, with models ranging from hypercars to luxury convertibles and limousines.



Highlights include:



Lamborghini Veneno

One of nine roadster versions of the ultimate Lamborghini, which were produced in the colours of the Italian flag to celebrate the company’s 50th anniversary: red, white and green. This two-tone white and cream example has driven a mere 325km Estimate €4,500,000 - 5,000,000.



Ferrari - La Ferrari

The Formula 1 and GT-inspired model is described by the Modena manufacturer as the ‘most ambitious’ Ferrari and the first production car to be equipped with F1-derived hybrid technology. This particular car has covered 1,000km. Estimate €2,300,000 - 2,500,000.



Koenigsegg One:1

Arguably the rarest car in the collection, only six were produced by the Swedish manufacturer who described it as the world’s first mega car, producing more than one megawatt of power, at its Geneva motor show launch in 2014, This example has driven only 597km. Estimate €1,600,000 - 2,000,000.



McLaren P1

One of only 375 hybrid super sports made by the British manufacturing arm of the successful Formula 1 firm. Just 1000km covered. Estimate €1,300,000 - 1,600,000.



Aston Martin One 77

Number 35 of 77. Aston Martin’s flagship carbon fibre and aluminium hypercar was produced in a limited run between 2009 and 2012, featuring a 7.3-litre V12 engine, giving a top speed of 220mph. Estimate €1,200,000 - 1,600,000.



Bugatti Veyron 16.4

The French produced Veyron, named after racing driver Pierre, set the benchmark for supercars when launched in 2005, combining racing car performance (1000hp, maximum speed of more than 250mph and acceleration from 0-62mph in 2.5 seconds) with a luxury package. This Atlantic Blue example is offered in very good condition, having driven just over 3000 miles. Estimate €600,000 – 800,000.


The collection is being offered for sale by the State of Geneva, to be sold without reserve, and the sale will be conducted by Mr.Mauro Contessotto, State Auctioneer for the Geneva State.



The Bonhams sale will be preceded by two viewing days (Friday 27 – Saturday 28 September), when the collection will be presented at the Bonmont Golf & Country Club, along with highlights from the auction house’s international sales of jewellery, watches and Chinese art as well as modern and contemporary art.



-ENDS-





Sale: Collector’s Motor Cars & Motorcycles, including a prestigious collection of supercars

Location: Club de Bonmont, Chéserex, Vaud – bonmont.com

Date: 29 September 2019

Sale Contacts:

Livie Gallone Moeller, Bonhams Geneva - [email protected]

Andrea Bodmer, Bonhams Zurich - [email protected]

Paul Gaucher, Motor Car department – [email protected]

 

First, he should get more than just his cars confiscated. He should be in prison. The money from the auction should go the country to help the citizens but I fear that the money will simply go into the pockets of the next corrupted official(s).

Having said that, not sure why he would buy a hard-to-move assets, especially that it were twice confiscated. Why not some diamonds or other super-high value small assets he can put in a briefcase and carry with him.
the other way is to buy a bunch of cryptos and redeem as needed.*

*Don't a financial background. Just brainstorming.

 

Is that duct tape on the Lambo???

 

Im sure he has money stashed and other fall back assets in case he really needs to run and start a new life with a new identity. But for now, he is enjoying his crook life by buying cars, boats and watches.

 

Hiding the license plate.

 

not sure if serious.
pretty sure plates are not that skinny in England