After three years in court, federal prosecutors on Friday revealed they had agreed to settle corruption-related cases involving more than $70 million in real estate and luxury goods amassed by the son of an African dictator.
The settlements, which are not yet final, would mark an end to two cases which the Justice Department had put at the center of its pledge to battle corruption in the developing world by going after the fruits of alleged illicit enrichment.
Neither side has disclosed terms of the settlement. It is unclear whether the son, Teodoro Nguema Obiang Mangue, known as Teodorin, had agreed to relinquish part or all of the eye-popping mountain of riches the U.S. believes he acquired through the plunder of resource revenue in his native Equatorial Guinea.
Click here to read the full article.