Financial Transparency Coalition

WASHINGTON, DC – Global Financial Integrity welcomed efforts by the U.S. Department of Justice (DOJ), to seize over $70.8 million in corrupt wealth from Teodorin Obiang, the infamous son of the President of Equatorial Guinea.

WASHINGTON, DC – The past twenty-four hours has seen the publication of two reports and the disclosure of an asset forfeiture complaint which, collectively, lay bare the size and seriousness of a global money laundering epidemic—underscoring the need for better incorporation transparency measures.

WASHINGTON, DC - Today the U.S. Department of Justice (DoJ) unsealed an asset forfeiture claim against a $30m Malibu house, a $38.5 million Gulfstream jet and other assets owned by the son of the President of Equatorial Guinea, claiming that they were bought with the proceeds of corruption. Global Witness, which in 2006 first revealed that Teodorin Obiang owned the Malibu mansion, welcomes this action after several years of investigations.

$33 Billion Illicitly Left Libya between 2001-2009, Says Global Financial Integrity Since the forces of the Libyan Transitional Council entered Tripoli last week, Muammar Qaddafi has not been seen, presumably hiding or on the run from the revolution aimed at ending his 42-year rule.  But as pointed out on ABC News last Wednesday, much of the money he looted from the country over the past 4 decades is still at large as well. Citing Global Financial Integrity (GFI) research, ABC notes that at least $33 billion dollars left the country through illicit means in...