Paris court finds Equatorial Guinea vice-president guilty of money laundering

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A French court on Friday handed Teodorin Obiang, vice-president of Equatorial Guinea and son of the country’s president, a three-year suspended prison sentence and a suspended fine of 30 million euros after he was found guilty in absentia of money laundering wealth embezzled from the African state’s public funds. The presiding magistrates, who in their ruling underlined the initial reticence of French prosecutors to bring Obiang to trial,  also ordered the confiscation of his assets in France, estimated to be worth 150 million euros, including a vast Paris townhouse and a fleet of luxurious cars. Michel Deléan reports.

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A Paris court on Friday handed Equatorial Guinea vice-president Teodoro Nguema Obiang Mangue a three-year suspended prison sentence and the confiscation of his assets in France, estimated to be worth 150 million euros, after magistrates found him guilty of money laundering, abuse of trust and embezzling his country’s public funds.