The sanctions target cases of serious corruption which have deprived developing countries of vital resources
Foreign Secretary Dominic Raab has today announced further sanctions on individuals under the UK’s Global Anti-Corruption sanctions regime.
This second set of Global Anti-Corruption sanctions targets corrupt individuals who have lined their own pockets through misappropriation, with their greed causing untold damage to the countries and communities they exploit.
The first set of UK sanctions under the global anti-corruption sanctions regime came in April, when 22 individuals allegedly involved in serious corruption cases in Russia, South Africa, South Sudan and Latin America were targeted.
The UK will impose asset freezes and travel bans against these individuals to ensure they will no longer be able to channel their money through UK banks or enter the country.
The new sanctions announced today target five individuals involved in serious corruption in Equatorial Guinea, Zimbabwe, Venezuela and Iraq. The individuals designated today are:
Teodoro Obiang Mangue, Vice President of Equatorial Guinea, and son of the current President, for his involvement in the misappropriation of state funds into his own personal bank accounts, corrupt contracting arrangements and soliciting bribes, to fund a lavish lifestyle inconsistent with his official salary as a Government Minister.
In a country where, according to UNICEF, a third of the population does not have access to even basic sanitation, investigations and media reports show that Obiang has spent over $500 million since he was appointed a government minister in 1998. This includes buying a $100 million mansion in Paris and others around the world, a $38 million private jet, a luxury yacht, dozens of luxury vehicles including Ferraris, Bentleys and Aston Martins and most notoriously, a collection of Michael Jackson memorabilia including a $275,000 crystal-covered glove that Jackson wore on his ‘Bad’ tour.