Arab Today, arab today french bank societe generale drawn into equatorial guinea graft probe
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

French bank Societe Generale drawn into Equatorial Guinea graft probe

Arab Today, arab today

Arab Today, arab today French bank Societe Generale drawn into Equatorial Guinea graft probe

Teodorin Obiang Nguema (L)
Paris - AFP

French bank Societe Generale has been drawn into the corruption case against the son of Equatorial Guinea's president, a judicial source said on Monday.

Teodoro Obiang Nguema, one of the country's vice-presidents, was charged by French prosecutors in March 2014 with money laundering and misappropriation of public funds.

French authorities have already seized the Obiang family's six-storey mansion on the chic Avenue Foch in Paris as well as several luxury cars.

They also took away vanloads of possessions including paintings by famous artists, a clock worth an estimated three million euros ($4.2 million) and wines worth thousands of euros a bottle.

Societe Generale was last week given the status of "assisted witness" in the case -- which lies between a witness and a suspect in the French legal system.

French investigators say the bank's local subsidiary, Societe Generale Bank in Equatorial Guinea, has played a "major role" in the alleged channelling of funds to Obiang.

The 46-year-old's father, who shares the same name, has ruled Equatorial Guinea with an iron fist since 1979.

Societe Generale confirmed it had been given the status of "assisted witness" in the case and said it would "naturally cooperate with the judiciary".
The younger Obiang has also been pursued by US authorities, who have accused him of racking up more than $300 million through embezzlement, extortion, and money laundering, while earning a government salary of less than $100,000 a year.

US prosecutors forced Obiang to turn over more than $30 million in ill-gotten gains -- including a Malibu villa, a Ferrari and Michael Jackson memorabilia -- last October.

"Obiang shamelessly looted his government and shook down businesses in his country to support his lavish lifestyle, while many of his fellow citizens lived in extreme poverty," US Assistant Attorney General Leslie Caldwell said at the time.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today french bank societe generale drawn into equatorial guinea graft probe Arab Today, arab today french bank societe generale drawn into equatorial guinea graft probe

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today french bank societe generale drawn into equatorial guinea graft probe Arab Today, arab today french bank societe generale drawn into equatorial guinea graft probe

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday