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Car auction millions to Equatorial Guinea

Tuesday, 30 September 2025 06:30

Geneva will transfer millions of francs to a health project in Equatorial Guinea.

The money was raised after courts seized and auctioned 25 high end vehicles, including Lamborghinis and Ferraris, in 2016.

The cars were brought into the country by the president’s son, Teodoro Obiang. His father has ruled the oil rich African state since 1982. Most of the country’s population live in poverty and don’t benefit from the oil exports. 

Courts in Geneva and France have convicted Obiang for money laundering and improper use of public assets. 

The cash from the auctions, CHF 23m, will be used for a health project aimed at helping the most vulnerable in the country.

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