US Seeks Mansion, Michael Jackson Gear Belonging To Equatorial Guinea Minister - Corruption Currents

[bluesky]

By Joe Palazzolo

The Justice Department on Wednesday moved to seize a Malibu mansion, Gulfstream jet and Michael Jackson memorabilia belonging to Equatorial Guinea’s agriculture minister, who U.S. prosecutors say amassed a fortune through theft of his country’s resource wealth.<dl class="wp-caption alignright caption-alignright" style="margin-top: 0px; margin-right: 8px; margin-bottom: 12px; margin-left: 27px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; float: right; width: 359px; "><dt class="wp-caption-dt" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; ">

</dt><dd class="wp-caption-dd wp-cite-dd" style="margin-top: 2px; margin-right: 0px; margin-bottom: 2px; margin-left: 0px; padding-top: 2px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font: normal normal normal 1.1em/normal Arial, Helvetica, sans-serif; color: rgb(102, 102, 102); font-size: 1em; text-align: right; ">Rebecca Blackwell/Associated Press</dd><dd class="wp-caption-dd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 2px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; font: normal normal normal 1.1em/normal Arial, Helvetica, sans-serif; color: rgb(51, 51, 51); ">Equatorial Guinea President Teodoro Obiang Nguema</dd></dl>
The minister, Teodoro Nguema Obiang Mangue, is the son of Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, who came to power in the Middle African country of about 668,000 in a 1979 coup.In a sweeping complaint filed in federal court in Los Angeles, the Justice Department accused Mangue of plundering billions of dollars of his country’s resource wealth to buy flashy cars, racing boats, a $38 million Gulfstream jet and the $30 million Malibu mansion.A spokesman for Mangue didn’t immediately respond to a request for comment. The family has repeatedly denied stealing state funds.Since the discovery of oil in the mid-1990s, Equatorial Guinea has grown to become sub-Saharan Africa’s third-largest producer of oil after Nigeria and Angola and a major supplier to the U.S.The economic windfall from oil production — about 322,700 barrels per day — has hoisted Equatorial Guinea’s per capita income to about $36,600, one of the highest in the world, but more than 70% of the population falls below the poverty line, and maternal and infant mortality rates remain high.The forfeiture complaint, which was filed Oct. 13 but unsealed Tuesday, seeks the mansion, a 2011 Ferrari 599 GTO and the Jackson memorabilia – including a jewel-encrusted glove that Jackson wore during his “Bad” tour, valued at $275,000, two of the late pop star’s trademark fedoras and a signed jacket like the one he wore in the music video “Thriller.” A separate complaint filed in federal court in Washington, D.C., seeks the private jet.The complaint alleges broad and systemic corruption by both father and son, who was placed in charge of the country’s forest industry in 1998, at the age of 30. The ruling family and associates pulled freely from a government account set up for oil-company payments, grossly inflated government contracts for companies they owned or controlled, and extorted companies seeking to lease land, the Department says.“By taking action to seize this house, the U.S. is finally starting to send a strong message that it does not want to be a safe haven for ill-gotten loot and vast, unexplained wealth,” said Robert Palmer, a campaigner with Global Witness, an anti-corruption group that has long pressured Western governments to crack down on Obiang. “This should keep suspected kleptocrats with assets in the U.S. awake at night.”The complaints are embedded below. The WSJ will have more on the case later today.

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http://blogs.wsj.com/corruption-currents/2011/10/25/us-seeks-mansion-michael-jackson-gear-belonging-to-equatorial-guinea-minister/?mod=google_news_blog</object>​

 

[myosotis]

Anyone looking out for a life-sized MJ statue....keep an eye on ebay (just guessing!)
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The vice president of Equatorial Guinea, who is also the son of the country's leader, has reached a settlement with the federal government that will force him to sell about $34 million in assets, including a Malibu mansion, Ferrari, and six life-sized Michael Jackson statues.

The settlement stems from three civil suits the U.S. government filed against Teodoro Nguema Obiang Mangue since 2011 that allege that he and members of the government of the oil-rich African nation, led by his father Teodoro Obiang Nguema Mbasogo since 1979, have been looting from the country in order to live lavish lifestyles while most of the population languishes. The figure is about half of what the government originally sought to seize from Obiang, according to the Wall Street Journal.

According to the AP, $20 million of the proceeds will go towards a charity to benefit his country of 750,000 people. $10.3 million will be forfeited to the U.S. government, which will use that money to benefit Equatorial Guineans to the extent that it can.

Although Obiang's salary from his home government is officially $100,000, the U.S. government alleges that he has used his power to amass a wealth that has allowed him to purchase items including a Gulfstream jet, luxury boat, and a massive Michael Jackson memorabilia collection. The collection, which includes the red "Thriller" jacket and the rhinestone-encrusted glove from the Bad tour, went on display last year in the Equatorial Guinean capital as part of an exhibit. Under the terms of the settlement, Obiang will be allowed to keep the jacket and glove.

Obiang admits no wrongdoing and wrote in a statement, "I agreed to settle this case despite the fact that the U.S. federal courts had consistently found that the Department of Justice lacked probable cause to seize my property."

"While this settlement is certainly gratifying for the many investigators and prosecutors who worked tirelessly to bring it to fruition, it is undoubtedly even more rewarding for the people of Equatorial Guinea, knowing that at least some of the money plundered from their country's coffers is being returned to them," the director of Immigrations and Customs Enforcement, Thomas Winkowski, said in a statement.

http://laist.com/2014/10/11/son_of_african_dictator_forced_to_s.php

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Under the agreement, Obiang &#8211; who reportedly once attended Pepperdine University &#8211; must also disclose and remove other assets he owns in the United States and make a $1 million payment to the U.S. for the value of Jackson memorabilia already taken out of the country.

As part of the settlement, the government will allow Obiang to keep a Gulfstream jet, a yacht and other items from his Jackson collection, including a white, crystal-encrusted glove from the late singer&#8217;s &#8220;Bad&#8221; tour.

http://westsidetoday.com/2014/10/11...l-malibu-mansion-michael-jackson-memorabilia/

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In addition to the house, Obiang agreed to sell his Ferrari and a collection of Michael Jackson statues worth $201,000.

Obiang won't be left penniless by any means. Before prosecutors could act, he was able to move about half his property out of the country, including a white crystal-covered glove Jackson wore on his "Bad" tour, worth $275,000, and an extensive collection of luxury cars, including Rolls Royces, a Bugatti and a Bentley. The government agreed to limit its claims to property still in the U.S., about half the value of what was originally sought.

http://www.latimes.com/local/crime/la-me-malibu-kleptocrat-20141011-story.html

 

[mkgenie]

What do those life-sized MJ statues look like....I'm curious

 

[ivy]

Edited to add

I checked the inventory list from court documents. He bought stuff from October 2010 (China), December 2010, March 2011, June 2011 Julien's auctions. Items listed as "Michael Jackson Neverland Ranch Life size figure". So I don't think it's life size figures of Michael. It's life size figures from Neverland.

Go here: http://www.juliensauctions.com/auctions/2010/icons-and-idols/icatalog.html , go to page 324. The life size figures he bought are items numbered 642,643,644, 645, 646,647, 648. He bought smaller MJ figures later on and they are shown in the below photograph. Overall he bought 75 MJ items from Julien's auctions for around $1.4 Million.


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These are pictures from his exhibition

source: http://www.guineaecuatorialpress.com/noticia.php?id=4346&lang=en#

 

[Petrarose]

The man has good taste. I guess this means you can't take your government money and buy high end products in the US while people in your country are starving.