That’s a deal that has come at some cost to Berardi who, as you read this, is in a jail cell measuring three meters by three meters.
The Italian businessman is incarcerated in Bata, Equatorial Guinea, a country of just 780,000 inhabitants known for its extremes of wealth and poverty.
It may be the third largest oil producer in sub-Saharan Africa and have a GDP to rival many a western nation but more than three-quarters of Equatoguineans live in poverty, says the World Bank.
Later this week, a country human rights groups describe as a repressive dictatorship and “one of the world’s most repressive societies” will host Africa’s most important sporting event — the Cup of Nations football tournament.
Berardi was convicted in 2013 of misappropriation, fraud and swindling.
His family says he was tortured during his detention, according to Human Rights Watch, and has always maintained his innocence.
The Equatorial Guinea government did not respond to CNN’s request by phone or email for comment on the allegation Berardi was tortured.
The founder of Eloba Construccion does say he made one “mistake.”
Having entered into business with Teodoro Obiang Nguema Mangue — nicknamed Teodorin — the son of Equatorial Guinea’s president, Berardi had the temerity to question his partner about unsanctioned payments going to an unnamed account in the U.S.
In response, Teodorin, the second vice-president of a country critics allege is run as a “family business,” and who has a passion for Jackson memorabilia, accused Berardi himself of financial impropriety.
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Visa and press accreditation in hand, Blas says he was met at the airport last year by one of the Minister of Information’s deputies.
But the Spaniard’s laptop and notebooks were all later taken.
“We were detained for six hours in the National Security HQ,” said the FT journalist. “They told us that the only way they would allow us to leave the country was if I gave the password to my computer — which I did since it had no confidential info.”
Despite its dismal record on battling corruption, the Confederation of African Football turned to Equatorial Guinea in November, after Morocco chose against hosting the Nations Cup just two months ahead of the tournament, citing fears of the Ebola epidemic.
Having co-hosted the Nations Cup in 2012, Equatorial Guinea had some facilities in place and its wealth meant it could handle the challenge at such short notice.
Three years ago, the hosts — then, as now, the lowest-ranked side in the competition — reached the quarterfinals and the squad shared a million dollars after winning their first game.
The money was a gift from Teodorin, then the country’s agriculture minister.
And he has, in essence, given money to his country’s poor in another way.
Two-thirds of the $30m in assets he surrendered to the U.S. government went to a charity working in Equatorial Guinea.
Meaning some of the oil wealth may finally trickle down to those Equatoguineans most in need.
