Indonesia hands yacht linked to 1MDB over to Malaysia

Howard TerryAug 07, 2018

Indonesia has returned to Malaysia a luxury yacht linked to the multi-billion dollar 1MDB financial scandal, Prime Minister Mahathir Mohamad said Monday, a move seen as bolstering a corruption probe involving ex-leader Najib Razak.

In a Facebook video, Mahathir thanked Indonesia for returning the $250 million yacht, Equanimity, which was seized by Indonesia off Bali in February in co-operation with the U.S. Federal Bureau of Investigation.

The superyacht "Equanimity", widely reported to be owned by Malaysian businessman Low Taek Jho, better known as Jho Low, was properly seized under Malaysian laws, said Attorney-General Tommy Thomas.

"On the vessel's expected arrival to Malaysia, it said: "[The] safest we can say is within 48 hours".

His lawyers opposed the USA government's request to suspend proceedings to allow it to find out what Malaysia plans to do with the asset, as the government isn't entitled to imposing "undefined, indefinite" delays, they said in the filing.

The center, which aims to draw Islamic scholars to combat extremist views and promote tolerance, was announced in March a year ago during King Salman's visit to Malaysia under former Malaysian leader Najib Razak.

Former Malaysia Prime Minister Najib Razak. Najib, who set up and oversaw 1MDB, denies any wrongdoing.

"The Court issued a Warrant of Arrest against it", he said in a statement today.

On Saturday, the Indonesian government agreed to hand over the yacht to Malaysia.

"If there is any party who wants to claim that this vessel belongs to them, they can show proof of ownership".

"At the end of the day, the yacht must be sold off" so that Malaysia can recover as much money as possible from it, Lim said.

A total of $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, according to civil lawsuits filed by the DOJ.

Low, who has so far evaded investigators, issued a statement through his U.S. lawyer on Monday protesting the handover of the yacht as an "illegal act" for ignoring court proceedings in the United States.

Hishammuddin Hussein says Malaysia lost a good chance to join the global fight against terrorism by closing the Saudi-backed King Salman Centre for International Peace.

Related Articles:



« Previous article


Popular Pages

Bills take low-risk gamble in acquiring Coleman from Browns
Buffalo sent quarterback Tyrod Taylor to the Browns in exchange for a third-round pick this offseason. The Browns acquired that pick when the Eagles traded up to draft quarterback Carson Wentz .

Paul Pogba's Manchester United future unsettled by Jose Mourinho's criticism
Jose Mourinho tells ESPN FC that the World Cup was the flawless habitat for Paul Pogba as he could 'only think about football '. Pogba was inconsistent last season and was even dropped by the United boss for a spell in the second half of the season.

Nine-year-old selling lemonade robbed at gunpoint
Union County police spokesman Tony Underwood told reporters the thief stole the boy's metal money tin with less than $20 in it. The nine-year-old's father, Philip Smith, said, "Never had an incident like this, never thought this would happen".

Jordan backs James after president questions player's intelligence
Pro Football Hall of Famer Shannon Sharpe tweeted: "It should be beneath the dignity of a sitting POTUS to take racist shots at D. Perhaps Trump's tweet was an attempt for Trump to get back at LeBron, but that came with much backlash from the sports community.

Northern California blazes now largest in state history
Those plans aim to store more water for farms and residents instead of releasing it for river ecosystems ( E&E Daily , March 16). Among other things, the policies are meant to protect struggling fish species and prevent salinity in waterways.

Transfer: Modric finally decides to leave Real Madrid
The winger said: "We are calm, we have him and I have no doubt that he will continue here". Inter want to take Modric on-loan for a year with the option to buy.

LeBron James adds documentary series to small-screen portfolio
The new show is scheduled to premier in October, the same month James will make his debut with the Los Angeles Lakers , Variety reports .

South Sudan’s warring leaders sign peace deal to share power
The deal says that Kiir will head the government during the transitional period and Machar will return as First Vice President. A similar peace deal was signed in 2015 but fell apart a year later in a deadly battle that saw Machar flee into exile.

Ohio State's Meyer: I 'failed' in denying prior knowledge about fired assistant
I always said it, but when you're five years old you say it, and people laugh, and you go back to playing with Legos". And Friday morning, per ESPN's Edward Acshoff , they announced the six-person group who will lead the investigation.

Activists Stand in Solidarity with Gaza
The coalition said Friday that the Swedish-flagged vessel, Freedom, was almost 60 miles (95 kilometers) off the coast. A similar incident took place last Sunday , when the Israel Navy stopped a boat flying under a Norwegian flag.