This Wednesday, July 28, 2021, the Court of Cassation rejected the appeal of Teodorin Obiang. The son of the president of Equatorial Guinea challenged his conviction in France for embezzling public funds in his country. His defense considered that French justice did not need to try crimes committed abroad, but the Court of Cassation therefore decided otherwise.
The Supreme French Court considered that the judges’ decisions were indeed in accordance with the law. French justice could therefore rule over these embezzlements even if they took place abroad. In concrete terms, this confirms the conviction of Teodorin Obiang’s appeal: he will therefore have to pay a fine of € 30 million and will be sentenced to three years in prison suspended for laundering the misappropriation of the company’s assets and embezzlement of public funds.
In addition, Equatorial Guinea may be the first country to benefit the new mechanism for restoring distressed assets. Last week, the French deputies adopted this device, which makes it possible to return to the population receipts of confiscated goods. In the case of Teodorin Obiang, his assets – estimated at € 150 million – will be auctioned off and the money raised will be used for development measures in Equatorial Guinea.
Note, however, that there is a possible last resort for Teodorin Obiang. He can apply to the European Court of Human Rights.
