Teodoro Nguema Obiang - Teodorín
Among those close to the president, two individuals are singled out for criticism both a home and abroad -- the first lady, and her son, the "primogeniture" of President Obiang. "Teodorin" (or "little Theodor") as the son is known, lived the life of an international playboy and is widely accused of corruption. His purchase of a $34 million mansion in Malibu, California once made Forbes magazine and attracted a great deal of attention.
Yet when probed on the issue of corruption, he explains that during the time of the "skinny cows," the government "granted" him a concession to lumber a large tract of pristine continental jungle. The company he formed (and which he still owns, even though he is currently Minister of Agriculture and Forestry), brought in a Malaysian contractor with 40 teams of well-equipped lumberjacks who clear-cut, transported and shipped a wealth of whole logs to Asian markets -- leaving Teodorin with a large windfall. It also ruffled enough feathers that a new law was introduced that prohibited the exportation of whole logs and limiting clear-cutting.
In the meantime, Teodorin continued entrepreneurial activities that often included purchase of foreign real estate. "I've been very lucky in business," he says, "and I like to live well. My house in Malibu is now worth twice what I paid for it."
The origins of his mother's initial grubstake were based in real estate, and by any measure she has since become a formidable local real estate baron. As the oil business took off, anyone with residential properties that supplied the basics (i.e., running water, electricity) saw demand for their properties soar.
Earlier than most, the first lady identified and built into EG's sizzling real estate boom, where 100% return on investments in western-style construction can come within a single year of completion. Of course, it doesn't hurt with marketing if you are the first lady, and land for construction may be easier to come by than for some others. The president himself acknowledges his "private interests in Equatorial Guinea," which include support for his wife's real estate ventures.
The son of dictator Teodoro Obiang, Teodoro Nguema Obiang, called usually Teodorín, received as a gift from his father, the job of lieutenant colonel of the Ground Forces, two and half months after being proclaimed president of the Youth Federation of the Democratic Party of Equatorial Guinea (PDGE). Nguema was elected at the First Ordinary Congress of the PDGE Youth, held in the town of Bata, under the slogan "Together we build the future with confidence", a position he also empowered him to "squat" the vice-presidency.
In France, prosecutors in 2012 seized the Obiang family’s Paris mansion on the elegant Avenue Foch, along with luxury cars, paintings and expensive wines, on suspicion they were bought with funds plundered from Equatorial Guinea’s public coffers. While the tiny West African country is oil rich, three-quarters of its population lives below the poverty line.
In September 2016, Equatorial Guinea petitioned the Hague-based International Court of Justice to suspend the French trial, arguing Paris had violated Obiang’s diplomatic immunity. Obiang’s lawyers say he acquired his wealth legally and the Paris mansion is part of the country’s diplomatic mission.
France is not the only country setting its sights on Obiang. In December 2016, Dutch authorities seized a 76 meter yacht, Ebony Shine, reportedly belonging to Obiang. Switzerland also seized 11 luxury cars in response to a French request.
In naming 2nd Vice President, President Obiang increased the chances of his son to succeed him when the time comes. Equatorial Guinea’s President Teodoro Obiang’ Nguema promoted his first son Teodoro ‘Teodorin’ Obiang’ Mangue as the country’s vice-president, local television confirmed 22 June 2016. Teodorin had been second vice-president. The position of second vice-president was abolished in the new government structure, with uncertainty over the role of prime minister. The president’s first son was also in charge of Defence and National Security ministry. Former Prime Minister Vicente Ehate Tomí will now be the deputy president of the State Council.
Teodorin’s appointment followed the formation of a new government after his father’s 24 April 2016 election win. President Nguema was re-elected with 93.7 per cent vote. He had been fighting attempts by the US administration to seize his assets, denying charges that they were obtained with allegedly corrupt funds taken from his country.
Teodorín always had expensive tastes and easy expense. For twenty years he led the high life and spends like a sheikh. His diplomatic passport allowed him to get in and out like that sang to him to the United States, France, with suitcases full of millions of dollars. Short hair, smooth and combed back, glasses thick glasses: Prince Teodorín does not really have a princely presentation. But he carries Gucci, Versace and Dolce & Gabbana, and when he enters one of his mansions, the domestic staff stand in a row in front of the door.
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