Financial Crime World

$25.6 Million Seized from Equatorial Guinean Official for COVID-19 Vaccines and Medicines in Equatorial Guinea

The United States Department of Justice (DOJ) announced on Wednesday that $25.6 million confiscated from Teodoro Nguema Obiang Mangue, the current First Vice President of Equatorial Guinea, will be used for purchasing and distributing COVID-19 vaccines and procuring medicines and medical supplies in his home country.

Funds for Vaccines and Medicines

  • $19.25 million of funds confiscated from Obiang Mangue will be used to purchase and distribute COVID-19 vaccines in Equatorial Guinea.
  • An additional $6.35 million will be granted to the Medical Care Development International (MCDI) for procuring medicines and medical supplies.

Civil Forfeiture Case

The funds stem from a civil forfeiture case, United States v. One Michael Jackson Signed Thriller Jacket, No. 2:11-CV-03582, filed in the Central District of California. The case accused Obiang Mangue of amassing more than $300 million in ill-gotten assets through corruption and money laundering between 2011 and the present.

Assets Seized and Repatriated

As part of a 2014 settlement agreement, Obiang Mangue agreed to sell various assets. These included a $30 million Malibu mansion, a Ferrari automobile, and Michael Jackson memorabilia. He was required to part with a total of $102.6 million, with $10.3 million being forfeited to the U.S. government. The remaining funds were to be donated to a charity for the benefit of the Equatorial Guinean people. The DOJ will ensure that these funds are repatriated and used accordingly.

DOJ’s Commitment to Uphold Justice

Assistant Attorney General Kenneth A. Polite Jr., of the DOJ’s Criminal Division, stated, “Wherever possible, kleptocrats will not be allowed to retain the benefits of corruption.” The Department of Justice reaffirms its stance against the misappropriation of national resources and this successful resolution of the case showcases their dedication to upholding this principle for the people of Equatorial Guinea.

Utilization of Funds

  • The funds will be employed to procure, store, distribute, and administer vaccines to at least 600,000 individuals in Equatorial Guinea in accordance with a donor agreement with the United Nations Development Programme (UNDP).
  • MCDI, a humanitarian organization, will manage the acquisition, storage, distribution, and delivery of medicines and medical supplies throughout Equatorial Guinea using the allocated $6.35 million.