Malibu home of Ivory Coast dictator's son.
The oil-rich Ivory Coast has one of the worst human rights records in Africa and whose rulers are accused of funneling millions of dollars into their own pockets. But now it looks like the son of the dictator----Teodoro---whose worldcomprised yachts, Bugattis, and Michael Jackson memorabiliacould come crashing down, according to Foreign Policy (via Curbed).
Foreign Policy's Ken Silverstein reported that after a four-year investigation into alleged extortion and laundering of $100 million in the US and "theft of public funds, or other corrupt conduct" back at home, the Justice Department has filed notice of a lawsuit involving the possible seizure of Tedoro's California mansion, and other assets.
And French investigators just seized millions of dollars' worth of his sports cars, while the Spanish government is investigating the entire Obiang clan. Teodoro reportedly hasn't spent much time stateside recently, in part thanks to various legal actions against him.
Just a peek inside the insane world of Teodoro---he first came to the U.S. to attend Pepperdine University in Malibu. While tuition cost just $3,400, he managed to blow through $50,000 in the first five months before dropping out. Source: Business insier--LA Weekly.
Teodoro is listed as the owner of this $35 million mansion on the Malibu coast, which he paid for in cash. It was the most expensive home sold in California in 2006, and has a tennis court, swimming pool and 4-hole golf course. Teodoro's on the government payroll as minister of agriculture and forestry, and supposedly makes just $5,000 per month. But his home contains $60,000 worth of rugs, a $58,000 home theater and a $1,734 pair of wine glasses.
Teodoro Obiang Nguema Mbasogo is the President of Equatorial Guinea, not Ivory Coast. He’s been dictator since a military coup in 1979. The French just ousted the President of Cote D’Ivoire (Ivory Coast) in 2011 following a disputed election. They put the Muslim in charge.
Interesting post. Thanks.