$250 mil superyacht at centre of 1MDB scandal sails to Malaysia

Indonesia handed over the US$250 million Equanimity to Malaysia yesterday. — Screengrab from

The Indonesian government handed over the yacht to the Malaysian authorities following a request by Prime Minister Tun Dr Mahathir Mohamad during his visit to the republic in June.

The Cayman Island-registered vessel Equanimity, which is reportedly worth some US$250 million and is owned by Jho Low, a former unofficial adviser to the Malaysian fund 1MDB, is pictured at Benoa harbor on Indonesia's resort island of Bali on April 13, 2018.

The former finance minister said this was because The Equanimity would have surely depreciated in value, and would surely not be enough to offset the IPIC debt.

A total of $4.5 billion was allegedly misappropriated by top-level 1MDB officials and their associates, according to civil lawsuits filed by the U.S. justice department. Lawsuits have identified him as a central figure in the 1MDB scandal, but his whereabouts are unknown. USA investigators said Low bought the yacht with proceeds diverted from 1MDB. Low, whose Malaysia passport has been revoked, has previously denied any wrongdoing.

"And on August 6, 2018, the court issued a warrant of arrest against it".

The large, blue and white boat arrived in Port Klang, west of the capital, after setting sail from the Indonesian island of Batam.

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Mahathir said any claimants to the yacht should provide proof that it belonged to them, and where they got the money to pay for it.

On July 4, Najib was charged with three counts of criminal breach of trust and one count of using his position for gratification as part of a probe into money missing from 1MDB. Najib, who has been questioned by Malaysian anti-graft officers and is barred from leaving the country, has denied any wrongdoing related to 1MDB.

FORMER prime minister Najib Razak is expected to face more charges in relation to the 1Malaysia Development Berhad scandal tomorrow.

Thomas said the transfer of the yacht to Malaysia was accomplished through sensitive and delicate negotiations under the Mutual Legal Assistance Treaties (MLAs) between Indonesia, the United States and Malaysia.

The DoJ has sought to take custody of the Equanimity, after it was seized by Indonesia in February at the request of US authorities as part of a multi-billion dollar anti-kleptocracy investigation into 1MDB.

The seizure was done at the initiative of the DoJ, which asserted ownership of the yacht on behalf of Malaysia and 1MDB because monies belonging to us were used to purchase it.

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