Obiang is the son of President Teodoro Obiang Nguema Mbasogo of oil rich Equatorial Guinea, a small West African country.
Investigators claim Obiang laundered hundreds of millions of dollars in corrupt oil money and gas reserves to fund a lavish lifestyle that included a $30 million Malibu estate, multiple exotic cars, and a down payment Gulfstream jet.
Senate investigators are looking into a number of Obiang’s business associates and business ventures, including “Sweet Pink Inc.,” which was reportedly launched in honor of his then girlfriend, Eve.
While they were dating, Obiang allegedly paid Microsoft founder Paul Allen $700,000 to rent his Yacht so he and Eve could take a romantic Christmas cruise.
Two lawyers are testifying before the Senate today (February 4).
They are accused of orchestrating most of the deals and laundering another $100 million through Citibank and Wachovia.
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