The United States is seeking $70.8 million in assets held by Teodoro Nguema Obiang Mangue, a son of the government minister of Equatorial Guinea accused of corruption and money laundering.
The United Nations and World Bank estimate that $45 billion a year is lost to corruption, which contributes to poverty, disease and environmental destruction, according to Jack Smith of the Caux Roundtable, a group that will try to recover pilfered assets when it launches in January.