Equatorial Guinea leader's son found guilty of embezzlement by French courtPARIS (Reuters) - Millions of euros of assets belonging to the son of Equatorial Guinea s president were ordered to be seized by a French court that found him guilty in absentia on Friday of using money plundered from his country to buy property and luxury cars. The Paris court found Teodorin Obiang, 48, guilty of embezzlement, and ordered the confiscation of more than 100 million euros worth of his French assets. Obiang denied the charges. Obiang, eldest son of President Teodoro Obiang and a vice president himself, was also handed a three-year suspended prison sentence and a suspended 30 million euros ($34.78 million) fine. The court president cited the slow response from parts of the French banking system in contributing to those penalties being suspended and hence more lenient. The case is the first of several to reach court in a broader judicial investigation into allegations of illicit acquisitions in France by long-time leaders and family relatives in several African countries including Gabon and Congo Republic. Obiang s luxury residence on Paris  Avenue Foch - a grand, sweeping road near the Arc de Triomphe often favoured by wealthy African expatriates and politicians - was among the assets scrutinised during the trial. The property, bought for 25 million euros in 2005, had 101 rooms, a gym, hair-dressing studio and disco with cinema screen. Paris prosecutor Jean-Yves Lourgouilloux said Obiang s  fraudulent spending  amounted to more than 150 million euros. The court was critical of Societe Generale, France s second biggest bank, and the Bank of France, deeming them complacent towards Obiang s finances and too slow to react. The role of the two banks was taken into account to justify the suspended sentences for Obiang, the court said.  The attitude of Societe Generale, similar to that of the Bank of France, may have led (Obiang) to think for a long period of time that there was, in France, some kind of tolerance for these practices,  Benedicte de Perthuis, the most senior judge sitting in the case, told the court. Societe Generale said it had not been a party in the trial and  therefore we don t have any particular comment to make . Officials at the Bank of France did not immediately respond to a request for comment.     Obiang was first put on trial in January but the case, 10 years in the works, was postponed after his lawyers argued they had not had enough time to prepare his defence. His father, President Teodoro Obiang Nguema Mbasogo, has ruled Equatorial Guinea - a former Spanish colony - for more than three decades, making him one of Africa s longest-serving leaders, and rights groups have labelled his administration as one of the world s most corrupt.   worldnews
equatorial guinea leader son found guilty embezzlement french courtyards reuters millions euros assets belonging son equatorial guinea president ordered seized french court found guilty absentia friday using money plundered country buy property luxury cars the paris court found teodorin owing guilty embezzlement ordered confiscation million euros worth french assets owing denied charges owing eldest son president todor owing vice president also handed suspended prison sentence suspended million euros million fine the court president cited slow response parts french banking system contributing penalties suspended hence lenient the case first several reach court broader judicial investigation allegations illicit acquisitions france leaders family relatives several african countries including gaon congo republic owing luxury residence paris avenue och grand sweeping road near arc de triumph often favoured wealthy african expatriates politicians among assets scrutinized trial the property bought million euros rooms gym studio disco cinema screen paris prosecutor lourgouilloux said owing fraudulent spending amounted million euros the court critical societe generale france second biggest bank bank france deeming complaint towards owing finances slow react the role two banks taken account justify suspended sentences owing court said the attitude societe generale similar bank france may led owing think long period time france kind tolerance practices benedict de perthuis senior judge sitting case told court societe generale said party trial therefore particular comment make officials bank france immediately respond request comment owing first put trial january case years works postponed lawyers argued enough time prepare defence his father president todor owing nguez mbasogo ruled equatorial guinea former spanish colony three decades making one africa leaders rights groups labelled administration one world corrupt worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Equatorial Guinea leader's son found guilty of embezzlement by French courtPARIS (Reuters) - Millions of euros of assets belonging to the son of Equatorial Guinea s president were ordered to be seized by a French court that found him guilty in absentia on Friday of using money plundered from his country to buy property and luxury cars. The Paris court found Teodorin Obiang, 48, guilty of embezzlement, and ordered the confiscation of more than 100 million euros worth of his French assets. Obiang denied the charges. Obiang, eldest son of President Teodoro Obiang and a vice president himself, was also handed a three-year suspended prison sentence and a suspended 30 million euros ($34.78 million) fine. The court president cited the slow response from parts of the French banking system in contributing to those penalties being suspended and hence more lenient. The case is the first of several to reach court in a broader judicial investigation into allegations of illicit acquisitions in France by long-time leaders and family relatives in several African countries including Gabon and Congo Republic. Obiang s luxury residence on Paris  Avenue Foch - a grand, sweeping road near the Arc de Triomphe often favoured by wealthy African expatriates and politicians - was among the assets scrutinised during the trial. The property, bought for 25 million euros in 2005, had 101 rooms, a gym, hair-dressing studio and disco with cinema screen. Paris prosecutor Jean-Yves Lourgouilloux said Obiang s  fraudulent spending  amounted to more than 150 million euros. The court was critical of Societe Generale, France s second biggest bank, and the Bank of France, deeming them complacent towards Obiang s finances and too slow to react. The role of the two banks was taken into account to justify the suspended sentences for Obiang, the court said.  The attitude of Societe Generale, similar to that of the Bank of France, may have led (Obiang) to think for a long period of time that there was, in France, some kind of tolerance for these practices,  Benedicte de Perthuis, the most senior judge sitting in the case, told the court. Societe Generale said it had not been a party in the trial and  therefore we don t have any particular comment to make . Officials at the Bank of France did not immediately respond to a request for comment.     Obiang was first put on trial in January but the case, 10 years in the works, was postponed after his lawyers argued they had not had enough time to prepare his defence. His father, President Teodoro Obiang Nguema Mbasogo, has ruled Equatorial Guinea - a former Spanish colony - for more than three decades, making him one of Africa s longest-serving leaders, and rights groups have labelled his administration as one of the world s most corrupt.   worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: equatorial guinea leader son found guilty embezzlement french courtyards reuters millions euros assets belonging son equatorial guinea president ordered seized french court found guilty absentia friday using money plundered country buy property luxury cars the paris court found teodorin owing guilty embezzlement ordered confiscation million euros worth french assets owing denied charges owing eldest son president todor owing vice president also handed suspended prison sentence suspended million euros million fine the court president cited slow response parts french banking system contributing penalties suspended hence lenient the case first several reach court broader judicial investigation allegations illicit acquisitions france leaders family relatives several african countries including gaon congo republic owing luxury residence paris avenue och grand sweeping road near arc de triumph often favoured wealthy african expatriates politicians among assets scrutinized trial the property bought million euros rooms gym studio disco cinema screen paris prosecutor lourgouilloux said owing fraudulent spending amounted million euros the court critical societe generale france second biggest bank bank france deeming complaint towards owing finances slow react the role two banks taken account justify suspended sentences owing court said the attitude societe generale similar bank france may led owing think long period time france kind tolerance practices benedict de perthuis senior judge sitting case told court societe generale said party trial therefore particular comment make officials bank france immediately respond request comment owing first put trial january case years works postponed lawyers argued enough time prepare defence his father president todor owing nguez mbasogo ruled equatorial guinea former spanish colony three decades making one africa leaders rights groups labelled administration one world corrupt worldnews