Obiang verdict: Transparency International welcomes the corruption conviction and seizure of assets
Transparency International welcomes the decision of a court in Paris to convict Teodoro Nguema Obiang Mangue... of embezzlement, and to confiscate all of his assets held in France.
...The confiscated assets must now be returned to the people of Equatorial Guinea.
Transparency International is calling for measures to be put in place to ensure the assets are not allocated to the general state budget of France or returned to the Obiang government in Equatorial Guinea but that they go directly to citizens.
...Transparency International France published a report advocating that assets confiscated in cases of grand corruption should benefit the population in the country of origin by financing development efforts, anti-corruption initiatives and work to strengthen the rule of law.
...Under Article 57.3.c of the UN Convention against Corruption, to which France is a party, laws should be put in place to return stolen assets to their rightful owners. France does not yet have these laws.
...The case against Obiang was initiated by Transparency International France and Sherpa... in 2008. Getting here has taken almost a decade of arguments, a change to French law and a crowdfunding campaign to ensure the witnesses could travel to Paris to testify.
[Transparency International France's report is available here (in French)]