Portuguese judicial authorities have initiated a formal investigation into potential corruption involving the major construction company Zagope and Teodoro Nguema Obiang Mangue, the Vice President of Equatorial Guinea. The probe follows revelations concerning substantial government contracts and subsequent financial transfers.
According to documentation, Zagope secured contracts valued at approximately 1.2 billion dollars from the government of the oil-rich Central African nation between 2009 and 2012. Investigative reports indicate that the firm later directed over 86 million dollars to a corporate entity named Somagui, which is owned by the Equatorial Guinean vice president. International prosecutors have previously characterized this company as a conduit with no legitimate business operations.
A spokesperson for Portugal’s Attorney General confirmed an ongoing investigation is underway, citing standard judicial confidentiality, but declined to elaborate further. In a statement, Zagope’s parent conglomerate, Andrade Gutierrez, acknowledged the investigation as anticipated and expressed that it should help clarify the situation.
This is not the first instance where the financial activities of Vice President Obiang Mangue, commonly known as Teodorin, have drawn international legal scrutiny. He previously reached a settlement with United States authorities in 2014, relinquishing assets worth more than 30 million dollars linked to corruption allegations. Furthermore, a French court convicted him on embezzlement charges in 2017, imposing a suspended prison sentence and a substantial fine, while also seizing French assets valued at over 178 million dollars.
Among these seized properties is a high-value apartment building on Paris’s Avenue Foch, currently the subject of a legal dispute between Equatorial Guinea and France. The African nation has petitioned the International Court of Justice, contesting the seizure and alleging the property holds diplomatic status. Concurrently, Brazilian authorities are pursuing a separate case against the vice president, accusing him of money laundering related to the purchase of luxury real estate.
