INDONESIA TO HAND OVER JHO LOW’S ‘EQUANIMITY’ YACHT TO MALAYSIA
However, Indonesian police did not specify when
INDONESIA has agreed to hand over to Malaysia a US$250 million luxury yacht, linked to a corruption scandal at a Malaysian state fund, which it impounded in Bali earlier this year, Indonesian authorities said yesterday.
The Cayman Islands-flagged Equanimity was seized in February at the request of United States authorities as part of a multi-billion dollar corruption investigation launched by the Department of Justice (DoJ) related to 1Malaysia Development Bhd (1MDB).
An Indonesian court ruling in April declared that the yacht was wrongfully impounded and should be released to its owners. Indonesian police seized the boat again in July following a formal request for legal assistance from the US.
Indonesian police said they would hand the yacht over to Malaysia but did not specify when.
“The yacht will be handed over at the border between Indonesian and Malaysian waters,” Daniel Silitonga, the deputy for economic and special crimes, said.
“We have to maintain the good relations between the two c o u n t r i e s .” h e s a i d , adding that the yacht was on waters close to the border of Singapore and Batam.
On Friday, a source said the decision to hand the yacht to Malaysia was reached following a personal request made by Prime Minister Tun Dr Mahathir Mohamad.
The Prime Minister’s Office did not reply to a request for comment.
Dr Mahathir, 93, visited Indonesia in June, his first official visit in the region after returning to power in an election win over Datuk Seri Najib Razak.
1MDB, founded by Najib, is at the centre of money-laundering probes in at least six countries, including the US, Switzerland and Singapore.
A total of US$4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, according to civil suits filed by the DoJ. Najib has denied wrongdoing. Malaysian financier Low Taek Jho is seen as a central figure in the scandal.
According to the suits, Low used proceeds diverted from 1MDB to procure Equanimity ,a 91m yacht registered in the Cayman Islands.
The vessel is said to have an interior clad in marble and gold leaf, a spa and sauna, a 20m swimming pool on deck, a movie theatre, a lift and a helipad.
Malaysian authorities are seeking to arrest Low, whose whereabouts are unknown.
His Malaysian passport was revoked and an arrest warrant has been issued against him.