The Second Vice President of the Republic of Equatorial Guinea, Teodoro Nguema Obiang Mangue, has agreed to forfeit his Malibu Mansion and other assets purchased with corruption proceeds as part of a settlement with the Department of Justice. The settlement forces him to relinquish assets worth an estimated $30 million and prevents him from hiding other stolen money in the United States.
Obiang “looted” his government and “shook down businesses” in his home country, raking in bribes and kickbacks to support a lavish lifestyle complete with a “corruption-fueled spending spree” in the United States, according to Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division.
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