Oct 11, 2014 5:50 AM
US deal with Equatorial Guinean missed chance
The Associated Press
JOHANNESBURG (AP) Anti-corruption fighters say a U.S. deal settling for $30 million with the son of Equatorial Guinea's leader misses an opportunity to expose the workings of abuse in that oil-rich nation.
The Open Society Justice Initiative said late Friday putting Teodorin Obiang on trial would have brought revelations exposing the nature of the corruption system and its players including lawyers, bankers and other professionals. Still the New York-based organization welcomed the first U.S. legal action of its kind to target the family of a sitting head of state.
In the first case under the Department of Justice's Kleptocracy Asset Recovery Initiative, Obiang must sell a Malibu mansion, a Ferrari and Michael Jackson memorabilia to raise $30.3 million to be used for the people of his country, who mainly live in poverty.