Swiss close case against son of Equatorial Guinea leader Swiss prosecutors say they have closed an investigation into the son of the president of Equatorial Guinea and two other people

BERLIN -- Swiss prosecutors say they have closed an investigation involving the son of the president of Equatorial Guinea and two other people.

Geneva prosecutors opened the probe on suspicions of money laundering and mismanagement of public assets in 2016. They seized 25 cars in Geneva and a yacht in the Netherlands.

They said Thursday they decided to close the case against Teodoro Obiang and the other two and to release the yacht after Equatorial Guinea agreed to pay Geneva authorities 1.3 million francs ($1.3 million), "notably to cover procedural costs." The prosecutors said the cars would be sold and the proceeds directed to a social program in Equatorial Guinea.

They cited rules that allow prosecutors to close cases in which the person under investigation has done everything expectable to repair any damage from alleged actions.