Confiscated luxury cars yield CHF27 million at Geneva auction
A collection of 25 luxury cars seized from Equatorial Guinea's vice president as part of a Swiss money-laundering probe were sold at an auction house for CHF27 million ($27.2 million) on Sunday.
Seven Ferraris, three Lamborghinis, five Bentleys, a Maserati and a McLaren were among the vehicles up for grabs. The most expensive sales included a white-and-cream 2014 Lamborghini Veneno roadster that went for CHF8.28 million and a 2015 Koenigsegg One:1 that fetched CHF4.6 million.
BonhamsExternal link had initially predicted that the collection would fetch a total of CHF18.5 million.
The cars were seized in 2016 as part of a probe related to money laundering on the part of Teodorin Obiang, the son of President Teodoro Obiang Nguema, plus two others accused of mismanaging public assets. In February of this year, the Geneva authorities announced that they had closed the case.
The proceeds of the auction will benefit a charity in Equatorial Guinea. For its part, the country has agreed to pay Geneva CHF1.3 million to cover the costs of the legal proceedings.
More
More
Geneva prosecutor closes Obiang case, sells off 25 luxury cars
This content was published on
The Geneva Prosecutor’s Office has closed an investigation into Teodorin Obiang, the son of the president of Equatorial Guinea.
Swiss institute hosted informal talks between Russians, Ukrainians and Americans
This content was published on
The Geneva Center for Security Policy (GCSP) has hosted 10 meetings between Russian and Ukrainian interlocutors since the start of the war.
Automated driving on Swiss motorways is theoretically possible from March
This content was published on
It will be theoretically possible to hand over the steering wheel to technology but no such system has been submitted for official approval yet.
Heated atmosphere at Swiss rally against AfD politician Alice Weidel
This content was published on
Around 250 people demonstrated "against the right" and the German AfD politician Alice Weidel on Saturday afternoon in Einsiedeln.
This content was published on
The Ethos Foundation recommends that shareholders vote against all compensation-related items at the Annual General Meeting on March 7.
Top Swiss firms close to reaching gender quota in boards
This content was published on
The proportion of women on the boards of directors of the fifty largest listed companies in Switzerland currently stands at 28%.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss refuse to release Obiang luxury cars
This content was published on
Genevan authorities seized 11 sports cars last October, followed by another 13 in the subsequent months, in response to a French request for legal assistance. The cars include a Bugatti Veyron, four Ferraris including an Enzo and 599GTB, a Porsche 918 Spyder, a Lamborghini Veneno, a Maybach, a Koenigesegg, an Aston Martin and a McLaren…
Equatorial Guinea accuses Swiss media of defamation
This content was published on
The Swiss investigation into Obiang’s assets was opened by the Geneva prosecutor in mid-October at the request of French authorities. He is suspected of money laundering offences. Last week, 11 luxury sports cars belonging to Obiang were seized by the Geneva authorities in connection with the investigation. The government of Equatorial Guinea denies the vehicles…
This content was published on
The programme, launched in April by a group of investigative journalistsExternal link, mines data captured by the network of antennaeExternal link used by plane spotters. In Geneva, this was provided by the association of airport residentsExternal link. Civilian planes emit signals which give the plane number and location. These data are scanned by the computer,…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.