1MDB-linked yacht seized by Malaysia in Port Klang
KUALA LUMPUR: A US$250 million (S$340 million) super yacht, impounded as part of a hunt for assets linked to 1Malaysia Development Bhd (1MDB), arrived in Malaysia yesterday.
The Cayman Islands-flagged Equanimity was seized in Bali in February at the request of US authorities investigating 1MDB.
The Malaysian state fund is at the centre of money-laundering probes in at least six countries, including Singapore. A total of US$4.5 billion was misappropriated from 1MDB by officials of the fund and their associates, according to the US Department of Justice (DOJ).
The yacht is among assets that included real estate, jewellery and a Picasso painting that the DOJ says were bought with funds stolen from 1MDB.
The yacht cruised into Port Klang flanked by marine police boats. Once it docked, Malaysian enforcement officers boarded to serve an arrest warrant on the vessel, inspect it and question the crew.
Indonesia, which had impounded the yacht, handed it over to Malaysia on Monday.
"1MDB claims ownership to this vessel... as they believe that their money was misappropriated and used to purchase the vessel," said lawyer Sitpah Selvaratnam.
The 91m yacht carried 17 crew members and appeared to be in good condition.
The DOJ has alleged it was bought by Malaysian financier Low Taek Jho, or Jho Low, with funds diverted from 1MDB.
Malaysian authorities have issued an arrest warrant for Low, whose whereabouts are unknown. - REUTERS
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