Barclays account used by Dictator’s son to buy €18m of artwork with suspect funds
An account at Barclays bank was used by Teodorin Obiang, the son of the dictator of Equatorial Guinea, to buy €18m (£16m at current rates) of art from the estate of the late Yves Saint Laurent.
Teodorin earns a salary of $6,799 (£4,200, €4,800) a month as a minister in his father’s government, yet lives a playboy life, owning fast cars, private jets and expensive real estate. The Barclays account was in the name of his forestry company, Somagui Forestal and the French anti-money laundering authority, Tracfin, suspects the funds could have been illicitly earned.