11 supercars owned by Teodoro Obiang Nguema Mbasogo were seized in ParisEnlarge Photo
A total of 11 supercars owned by the son of Teodoro Obiang Nguema Mbasogo, the president of the tiny African nation of Equatorial Guinea, were seized in Paris, France on September 28.
The lineup consisted of a who’s who of the latest supercars including no less than two Bugatti Veyrons, a Ferrari [NYSE:RACE] Enzo and 599 GTO, a Maserati MC12, a Porsche Carrera GT, and a Bentley Azure.
The reason for the seizure remains a mystery, though it is believed to be in regards to an investigation by French authorities over claims Mbasogo's son, Teodoro Nguema Obiang Mangue, is using state funds to fuel his lavish lifestyle.
The cars were seized at the president’s residence in Paris, not too far from the Arc de Triomphe.
Equatorial Guinea, though recently found to contain healthy oil reserves, has close to 70 percent of its population living in poverty. Obiang has been in power in the country since 1979, when he overthrew his uncle Macias Nguema in a military coup.