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Vol 45 No 15

Published 21st July 2004

Equatorial Guinea

Private estate

An astonishing report by US legislators exposes some of the Obiang government's mass pilfering

The scandal enveloping the venerable Washington-based Riggs Bank, which once called itself the 'most important bank in the most important city in the world', has been flung into orbit by a report on 15 July by the United States Senate's Permanent Subcommittee on Investigations. The Subcommittee has found corrupt payments and money-laundering activities linked to Saudi Arabian officials, to Chilean former dictator Augusto Pinochet and to top officials and relations of Equatorial Guinea's President Teodoro Obiang Nguema Mbasogo.

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