Friday 16 November 2018

Luxury yacht brought back to Malaysia amid corruption probe

Malaysia says the vessel will be sold to the highest bidder to replenish state assets.

Luxury yacht Equanimity, allegedly bought with money stolen from the state investment fund, arrives at Port Klang in Klang, Malaysia (Yam G-Jun/AP)
Luxury yacht Equanimity, allegedly bought with money stolen from the state investment fund, arrives at Port Klang in Klang, Malaysia (Yam G-Jun/AP)

By Associated Press Reporter

A luxury yacht allegedly bought with money stolen from the multi-billion-dollar looting of a state investment fund has arrived at a Malaysian port.

The 250 million US dollar Equanimity, seized by Indonesia off Bali in February in cooperation with the US FBI, was handed over to Malaysian authorities at the Indonesian island of Batam near Singapore.

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Malaysia’s marine police on their security boat watch luxury yacht Equanimity (Yam G-Jun/AP)

The US Justice Department, one of several foreign agencies investigating money stolen and laundered from the 1MDB fund, had listed the yacht among assets it could seize and sell to recover stolen funds.

Following the handover of the yacht to Malaysia, the Justice Department has sought to suspend legal proceedings to determine what Malaysia plans to do with the vessel.

Malaysian officials have said the yacht will be sold to the highest bidder.

Press Association

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