Car lovers from around world splashed out more than $27 million at an auction on September 29 for dozens of luxury cars seized from son of Equatorial Guinea’s president in a Swiss money-laundering probe. 25 lots sold by auction house Bonhams included a white-and-cream 2014 Lamborghini Vene roster that cost buyer 8.28 million Swiss francs ($8.4 million), comprising a 15% premium for auction house but with potential taxes still to be ded. supercar — one of only nine such versions produced — h been driven only 325 kilometers (201 miles) and has an official top speed of 359 kilometers per hour (223 mph), Bonhams said.

Total proceeds from sale beat 18.5 million francs ($18.7 million) that authorities h hoped to fetch for a charity to benefit people of oil-rich Equatorial Guinea. Or cars sold at Domaine de Bonmmont golf club on edge of Geneva included a yellow 2003 Ferrari Enzo for 3.1 million francs and a 2015 Koenigsegg One:1 that fetched 4.6 million francs. An armored 1998 Rolls-Royce Silver Spur limousine described as being “perfect for someone with enemies” but requiring extensive work sold for 86,250 francs.
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story behind auctions

cars were seized a result of Swiss money-laundering probe. auction comes after Geneva prosecutor’s office anunced in February it h closed a case against Teodoro Nguema Obiang Mangue, son of country’s four-dece president, Teodoro Obiang, and two ors following a probe of money laundering and mismanment of public assets. Swiss authorities seized cars and ordered sequestration of a yacht in 2016. yacht was released in arrangement anunced in February, under which Equatorial Guinea agreed to pay Geneva authorities 1.3 million Swiss francs “tably to cover procedural costs,” prosecutor’s office said. 
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Equatorial Guinea president’s son and his legal troubles

Equatorial Guinea president’s son, who is also a vice president, has been ensnared in legal trouble elsewhere. Last year, Brazilian officials said $16 million in undeclared cash and luxury watches that were seized from a delegation he led may have been part of an effort to launder money embezzled from country’s government. And a Paris court in 2017 convicted son of embezzling millions of dollars in public money, although case has been appealed. Geneva prosecutor’s office in February cited rules allowing prosecutors to close cases in which person under investigation h “repaired dam or done everything that could have been expected of him or her to make up for wrong that was caused.” investigation involved authorities in United States, Cayman Islands, France, Monaco, Denmark, Nerlands and Marshall Islands.

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