One Ferrari, two Bugatti, Maserati – gone!

The title of this blog is “I hate money laundering”, and I really, really do.  Well, I am fascinated by it and I enjoy its complexity and constant evolution, but I hate the fact that it happens.  And I reserve particular bile for those who do it.

In a rather shallow attempt to get young male financial sector employees interested in the whole topic of money laundering, I often use a case study involving Teodorin Obiang, son of the president of Equatorial Guinea, and fast car addict.  This ridiculous man uses large sums of money spirited out of his country by his corrupt father to live the high life in Paris and buy whatever speedy vehicle comes onto the market.  The car showroom staff must rub their little hands with glee when they see him coming down the road.

But finally – and waaaaaaaaaay overdue – the French authorities have decided that enough is enough.  Quite what has tipped them over the edge, when this has been going on for decades, I do not know, but better late than never.  (According to the press, the French prosecutors were fooled by “financial illusionists” who hid the money – that’s money launderers, to you and me.)  But now you too can enjoy liberal helpings of Schadenfreude by looking at these photos and a video of Teodorin’s car collection being towed away.  I’ve played it more times than is healthy.  In fact, I’m off to have another look…