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MALAYSIA-INDONESIA-CORRUPTION-1MDB
Luxury yacht linked to 1MDB scandal arrives in Malaysia
PORT KLANG, Malaysia, Aug 7, 2018 (BSS/AFP) – A luxury yacht allegedly
paid for with funds from a multi-billion-dollar scandal that helped topple
Malaysia’s government arrived outside Kuala Lumpur Tuesday, with authorities
hoping it will help in their prosecution of the country’s disgraced former
leader.
The 300-foot (90-metre) Equanimity, equipped with pool, helicopter landing
pad and cinema, belonged to Jho Low, a flamboyant international financier who
allegedly played a central role in the 1MDB controversy that has engulfed
former prime minister Najib Razak.
The yacht — worth about $250 million — was handed over by Indonesian
authorities who had seized it off the tourist island of Bali in February.
The large, blue and white boat arrived in Port Klang, west of the capital,
after setting sail from the Indonesian island of Batam. It was accompanied by
a Malaysian navy frigate and three smaller vessels.
A large team of officials was seen entering the yacht. Malaysia’s attorney-
general welcomed the boat being turned over, and said that “sensitive and
delicate negotiations” had taken place between Malaysia, Indonesia and the US
to ensure it happened.
Indonesian authorities impounded the boat on a request from the US
Department of Justice, which is seeking to seize $1.7 billion of assets
allegedly bought with money looted from Malaysian sovereign wealth fund 1MDB.
Najib, his cronies and family members are accused of stealing huge sums
from 1MDB in a sophisticated fraud that spanned the globe.
– Shock defeat –
Najib’s coalition, which had ruled Malaysia uninterrupted for over six
decades, suffered a shock election defeat in May to an alliance headed by his
former mentor Mahathir Mohamad, 93, in large part due to the corruption
allegations.
The ex-prime minister was arrested and charged with corruption last month.
Najib, who set up and oversaw 1MDB, denies any wrongdoing.
In a civil suit seeking to seize assets allegedly bought with 1MDB money,
the DoJ alleges that playboy financier Jho Low used about $250 million stolen
from the fund to purchase the Cayman Islands-registered yacht.
Jho Low — full name Low Taek Jho — had no official positions at 1MDB but
was said to exert great influence over the fund. His current whereabouts are
unknown but Malaysian authorities have said they want to bring him back to
the country and prosecute him.
The government has said it plans to open the Equanimity to public viewing,
before eventually selling it off.
Legal experts say the boat could bolster the case against Najib and others
linked to the scandal. Cynthia Gabriel, a member of an official team set up
to recover assets allegedly bought with stolen 1MDB money, said that the
Equanimity being handed over to Malaysia was “very significant”.
After Mahathir announced Monday that Indonesia was handing over the
Equanimity, the DoJ sought to suspend ongoing legal action in the US courts
to take possession of the yacht.
In a filing to a California court, the justice department proposed “that
all proceedings in this action be suspended in order to give the government
and any interested claimant the opportunity to inquire of Malaysia through
formal channels what its intentions are with respect to the defendant yacht”.
BSS/AFP/IJ/1441 hrs