London Daily

Focus on the big picture.
Friday, Aug 08, 2025

French Draft Law Is a Warning to Corrupt Leaders

French Draft Law Is a Warning to Corrupt Leaders

France may soon join just a handful of countries, including the United States and Switzerland, with far-reaching legislation aimed to repatriate confiscated stolen assets to their countries of origin.
A luxury townhouse on Avenue Foch — one of Paris’ chicest addresses — is caught up in a yearslong legal battle between France and Equatorial Guinea.

The African nation argues the mansion is part of its diplomatic mission, while French prosecutors claim it is owned by Teodorín Obiang, the wealthy son of Equatorial Guinea’s longtime leader.

So far, France is winning. A Paris court fined the younger Obiang millions of dollars and handed him a suspended prison sentence. The reason: The court said he plundered his nation to finance his luxury lifestyle — a sentence upheld last November by the International Court of Justice in The Hague. French authorities have also seized the 100-room Paris mansion, along with other property including a fleet of luxury cars.

Equatorial Guinea is appealing the case, and France’s highest court is expected to examine it shortly. If France wins again, the millions of dollars in assets would normally end up in its public coffers.

But a new measure making its way through French parliament may change that trajectory. If it becomes law, the millions would instead head back to Equatorial Guinea — targeting its majority poor population.

“This is the money that was stolen from people that work hard in their country, people that really need this money. And we need to make sure that it will go back in those countries and use it properly,” said Deputy Herve Berville of the ruling La Republique en Marche (LREM) party, who is helping to sponsor the measure.

The legislation passed last week in France’s National Assembly, but still faces a Senate vote.

“It’s really important to tell our citizens and the citizens of the world in those countries — in Africa, Asia and Latin America — that France will not allow dictators or sort-of dictators to take money that’s not their money,” he said.

Anti-corruption groups praise the legislation, but they argue some of the language needs strengthening.

“For us, the legislation is not completely adequate to what we were expecting,” said Sandra Cossart, director of French NGO Sherpa. “And especially it’s lacking this principle that for us is mandatory — that is transparency, accountability … and also, very important, the very close participation of civil society in the countries involved.”

If it becomes law, the legislation could affect other high-profile cases underway here. Among them: Rifaat al-Assad, uncle of the Syrian leader Bashar al-Assad. A Paris court sentenced him to prison last year for money laundering and misappropriating public funds to buy luxurious French property. He, too, is appealing his conviction.

Also involved in a so-called ill-gotten-gains investigation in France: the family of conflict-torn Yemen’s late president Ali Abdallah Saleh.
Newsletter

Related Articles

0:00
0:00
Close
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Embarrassment in Britain: Homelessness Minister Evicted Tenants and Forced to Resign
President Trump nominated Stephen Miran, his top economic adviser and a critic of the Federal Reserve, to temporarily fill an open Fed seat
The AI-Powered Education Revolution: Market Potential and Transformative Impact
Chikungunya Virus Outbreak in Southern China: Over 7,000 Hospitalized
French wine makers have seen catastrophic damage to vines that were almost ready to be harvested after the worst fires in more than 70 years burned through the south of the country
US Lawmaker Probes Intel CEO’s China Ties Amid National Security Concerns
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
Trump Open to Meeting Putin as Soon as Next Week, with Possible Trilateral Summit Including Zelenskiy
Katy Perry and Justin Trudeau spark dating rumors, joining high stakes world of celeb-politician romances
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
Trump Signals JD Vance as ‘Most Likely’ MAGA Successor for 2028
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
Representative Greene Urges H-1B Visa Cuts Amid U.S.-India Trade Tensions
U.S. House Committee Subpoenas Clintons and Senior Officials in Epstein Investigation
Sydney Sweeney Registered as Republican as Controversial American Eagle Ad Sparks Debate
Trump Accuses Major Banks of Politically Motivated Account Denials and Prepares Executive Order
TikTok Removes Huda Kattan Video Over Anti-Israel Conspiracy Claims
Trump Threatens Tariffs on India Over Russian Oil Imports
German Finance Minister Criticizes Trump’s Attacks on Institutions
U.S. Proposes Visa Bond of Up to $15,000 for Some Applicants
U.S. Farmers Increase Lobbying Amid Immigration Crackdown
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
×