Portugal Investigates Construction Giant’s Relationship with Equatorial Guinea’s Vice President

Equatorial Guinea’s VP Embroiled in New Corruption Probe as Past Misdeeds Resurface

Lisbon, Portugal – Teodoro Nguema Obiang Mangue, Vice president of equatorial Guinea and son of long-ruling President Teodoro Obiang Nguema Mbasogo, is facing a new investigation in Portugal stemming from allegations of corruption linked to a major construction contract. The probe, confirmed by a spokesperson for Portugal’s Attorney General, centers around payments made by Zagope, a company awarded nearly $1.2 billion in government contracts between 2009 and 2012.

The investigation follows a report by the International Consortium of Investigative Journalists (ICIJ) and its media partners, based on leaked documents obtained by Portugal’s expresso newspaper. The ICIJ’s findings reveal that Zagope subsequently transferred over $86 million to somagui, a company owned by Teodorin, which French prosecutors have described as a shell corporation used to divert public funds. Payments continued to Somagui until at least 2018, according to the leaked documents.

Andrade Gutierrez, Zagope’s parent company, acknowledged the investigation was “expected” and stated it would be an opportunity to “clarify the facts” already addressed in previous statements.

This latest development adds to a growing list of legal challenges for teodorin, who has long been accused of illicitly accumulating wealth. In 2014, he settled with the U.S. Department of Justice, forfeiting over $30 million in assets linked to corruption. A French court convicted him of embezzlement in 2017, sentencing him to a three-year suspended sentence and a $35 million fine, while also seizing over $178 million in French assets, including a luxury apartment building on Avenue Foch in Paris.

The Paris property remains at the center of a legal battle between Equatorial Guinea and France, with Equatorial Guinea recently appealing to the International court of justice to prevent its sale. The country argues the property was purchased with embezzled funds and should be returned under a UN anti-corruption treaty, though it has not identified who committed the embezzlement. Previous attempts to claim diplomatic immunity for the property were unsuccessful.

Further complicating matters, teodorin was indicted in Brazil last year, accused of using laundered funds to purchase a luxury apartment and illegally bringing $16 million in cash and luxury goods into the country.These ongoing investigations and legal battles highlight the continued scrutiny of Teodorin’s wealth and the alleged corruption surrounding his family’s decades-long rule in Equatorial Guinea.

What specific anti-corruption laws are being investigated in relation too Andrade Gutierrez and Teodoro Nguema Obiang?

The Scope of the Examination

Portuguese authorities have launched a formal investigation into alleged financial dealings between a major Portuguese construction firm, Andrade Gutierrez, and Teodoro Nguema Obiang Mangue, the Vice President of Equatorial Guinea. The probe centers around potential violations of anti-corruption laws, money laundering, and illicit enrichment. This investigation follows years of scrutiny regarding the Vice President’s extensive international assets and accusations of misappropriating state funds. Key areas of focus include:

Construction Contracts: Examining the awarding of lucrative construction contracts in Equatorial Guinea to Andrade Gutierrez, specifically those linked to infrastructure projects overseen by the Vice President’s office.

financial Flows: Tracing the movement of funds between Andrade Gutierrez subsidiaries, offshore accounts, and entities connected to Nguema Obiang.

Real Estate Acquisitions: Investigating whether funds from questionable sources were used to finance the Vice President’s high-value property purchases in Portugal and elsewhere.

Potential Bribery: Determining if Andrade Gutierrez engaged in bribery or offered undue incentives to secure contracts.

Andrade Gutierrez’s Involvement: A Timeline

Andrade Gutierrez, one of Portugal’s largest construction and engineering companies, has been active in Africa for decades. Their involvement in Equatorial Guinea dates back to the early 2000s, coinciding with the country’s oil boom and increased government spending on infrastructure.

1. Early 2000s: Andrade Gutierrez secures initial contracts for road construction and public works projects in Equatorial Guinea.
2. 2006-2012: The company wins several large-scale contracts, including projects related to the 2012 Africa Cup of Nations hosted by Equatorial Guinea and Gabon.These projects involved the construction of stadiums, hotels, and transportation infrastructure.
3. 2015-Present: Increased scrutiny of Andrade Gutierrez’s operations in Africa, following allegations of corruption and involvement in the Odebrecht scandal (a separate Brazilian corruption case with overlapping connections). The current Portuguese investigation builds upon these earlier concerns.

Equatorial Guinea’s Vice president: A Profile of Wealth and Controversy

Teodoro Nguema Obiang Mangue, son of Equatorial Guinea’s long-ruling President Teodoro Obiang Nguema Mbasogo, holds critically important power and influence within the country. He has been repeatedly accused of lavish spending and accumulating wealth through corruption.

Asset Seizures: Several of Nguema Obiang’s assets have been seized by international authorities, including a $38 million yacht, luxury cars, and properties in France and the United States. These seizures were often the result of investigations into money laundering and illicit enrichment.

French Investigation: In 2017, a French court convicted Nguema obiang of embezzlement and money laundering, sentencing him to a suspended prison term and ordering the confiscation of his assets in France.

US Department of Justice: The US Department of Justice has also investigated Nguema Obiang, alleging that he used stolen funds to purchase luxury goods and real estate.

Portugal’s Role and Legal Framework

Portugal has been strengthening it’s anti-corruption laws in recent years, driven by international pressure and a desire to improve its reputation as a financial center. The investigation into Andrade gutierrez and Nguema Obiang is being led by the Public prosecutor’s Office (Ministério Público) and involves collaboration with international law enforcement agencies.

Anti-Money Laundering Laws: Portugal’s anti-money laundering legislation requires financial institutions to report suspicious transactions and conduct due diligence on their clients.

Corruption Prevention Laws: The country’s corruption prevention laws criminalize bribery, embezzlement, and other forms of corruption.

International Cooperation: Portugal is a signatory to international conventions against corruption, such as the United Nations Convention Against Corruption and the OECD Anti-Bribery Convention.

Potential Implications and future Developments

the outcome of this investigation could have significant implications for both Andrade gutierrez and Equatorial Guinea.

Andrade Gutierrez: The company could face hefty fines, reputational damage, and potential restrictions on its ability to bid for future contracts.

Equatorial Guinea: The investigation could further isolate the country internationally and increase pressure on the Obiang regime to address corruption concerns.

Increased Scrutiny: This case is likely to lead to increased scrutiny of other Portuguese companies operating in Africa and other regions with high levels of corruption risk.

Further developments to watch for include:

Witness Testimony: The testimony of key witnesses, including former Andrade Gutierrez employees and individuals with knowledge of the financial transactions.

Documentary Evidence: The analysis of financial records, contracts, and other documents that could shed light on the alleged wrongdoing.

international Collaboration: Continued cooperation between Portuguese authorities and law enforcement agencies in other countries.

Related search Terms

Equatorial Guinea corruption

Andrade Gutierrez investigation

Teodoro Nguema Obiang assets

Portuguese anti-corruption laws

Money laundering Portugal