Feb 4, 2010

Dictator Kids Still Living Obscenely in the US, Report Says [Money Talks]

Teodoro Nguema Obiang Mangue, son of the Equatorial Guinean dictator managed to move $110 million into the US between 2004 and 2008, a senate investigation shows. Here's a picture we were given of him and his "million dollar watch."

Obiang, who is the subject of a criminal investigation, had help help circumnavigating post-9/11 laws designed to stop nefarious figures abusing US hospitality, according to the Associated Press. He "used two lawyers who helped him with shell company accounts, two real estate agents who helped him purchase a $30 million home in Malibu, Calif., and an escrow agent who assisted in buying a $38.5 million Gulfstream jet."

Obiang is not the only one flouting the rules. Pierre Falcone, an Angolan arms dealer kept $60 million in US bank accounts here and bought a $9.6 million house in Arizona. Omar Bongo, the president of Gabon for 41 years until he died last year, bought armored vehicles and transport planes from the US. His daughter had $1 million in shrink-wrapped hundred-dollar bills in a New York safety deposit box. Atiku Abubakar, former vice president of Nigeria, used his wife, a US citizen, to smuggle in more than $40m of 'suspect funds'. We are living in a Frederick Forsyth novel.

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