Here is an excerpt from an Asociated Press story currently running on Yahoo News:
"JOHANNESBURG – The son of Equatorial Guinea's dictator of 30 years commissioned plans to build a superyacht costing $380 million, nearly three times what the country spends on health and education each year, a corruption watchdog said Monday.
The statement from Global Witness said that German company Kusch Yachts has been asked to build the yacht, housing a cinema, restaurant, bar and swimming pool, though construction has not yet started.
Global Witness has been urging Washington to institute sanctions against Teodorin Obiang, whose extravagant lifestyle currently includes a $35 million-dollar mansion in Malibu, California, a $33 million jet and a fleet of luxury cars, while earning a salary of $6,799 a month as agriculture minister."
For full article follow this link:
African dictator's son orders luxury superyacht - Yahoo! News