Properties seized from Teodorin Obiang, son of President Teodoro Obiang of Equitorial Guinnea as part of money laundering investigation has fetched a total sum of $3.6 million in a public auction in Paris, France.
The properties which were mainly expensive vehicles include Bugatti, Bentley, Ferrari, Porsche and Maserati, nine luxury vehicles seized from him fetched the money from the public auction.
The auction was ordered by a state collection agency that would use the proceeds to indemnify the victims. According to Reuters, the cars come with leather seats with very little mileage.
“I am delighted, it went really well. We meant out target”, the auctioneer said in Paris. The vehicles were seized by a French judge in September 2011.