Swiss authorities auctioned 25 luxury supercars linked to Equatorial Guinea's vice president, Teodoro Nguema Obiang, in Geneva, including a 2014 Lamborghini Veneno Roadster that set a new auction record.
The vehicles, part of a Swiss money-laundering investigation into Obiang's alleged misappropriation of public funds, included Ferraris, Lamborghinis, and an Aston Martin One-77 Coupe. The collection was expected to generate up to Sh1.9 billion ($18.7 million), with the Veneno Roadster selling for Sh860 million ($8.3 million) — 50% above its pre-sale estimate.
Obiang, son of Equatorial Guinea's 40-year ruler Teodoro Obiang Nguema, faces accusations of corruption from human rights groups. Swiss prosecutors dropped their investigation in February 2019 as part of an agreement to sell the cars to fund social programs in his country.
The auction at Geneva's Domaine de Bonmmont golf club also featured a 2003 Ferrari Enzo for 3.1 million Swiss francs and a 2015 Koenigsegg One:1 that fetched 4.6 million francs. A Swiss bidder confirmed a Dubai-based collector purchased multiple vehicles.
Swiss authorities had seized the cars and a yacht in 2016, later releasing the yacht after Equatorial Guinea paid 1.3 million Swiss francs in procedural costs. Obiang previously received a suspended three-year jail sentence in a 2017 French court case over corruption allegations.
