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EXCLUSIVE: US files explain seizure of $250m superyacht in 1MDB scandal

INDONESIAN authorities on Wednesday sent shockwaves across Southeast Asia when it mounted a late-afternoon raid to seize a US$250 luxury yacht in Bali at the request of US authorities probing a multi-billion dollar scandal involving a Malaysian development fund. In the hours that followed initial reports of the operation, it was uncertain whether Indonesia’s US counterparts had any direct involvement with the raid. However, National Police Spokesman Muhammad Iqbal Abduh later clarified that police seized the yacht, Equanimity, after receiving a letter on Feb 21 from the US Federal Bureau of Investigation (FBI) requesting help to enforce a court order. The seizure included the arrests of some 29 crew members who are now being questioned into the case related to alleged money laundering by officials linked to the 1Malaysia Development Berhad (1MDB) fund. The scandal has implicated Malaysia’s Prime Minister Najib Razak and several other well-connected individuals, including Malaysian financier Jho Low. 1MDB was once a pet project of Najib, who chaired its advisory board until 2016. Source: Reuters The lawsuits said Low used proceeds diverted from 1MDB to buy Equanimity, which it described as a 300-foot (91m) yacht registered in the Cayman Islands. Agung Setya, the head of the National Police special crimes investigation unit said Indonesian authorities were not looking for Low. SEE ALSO: US calls Malaysia’s 1MDB corruption scandal ‘kleptocracy at its worst’  “We have an obligation to search for all on the wanted list or (anyone) included on an Interpol red notice. But I have not seen the name,” he said. Low’s whereabouts are unknown, and his Hong Kong company has not responded to requests for comment. Additional reporting by Reuters The post EXCLUSIVE: US files explain seizure of $250m superyacht in 1MDB scandal appeared first on Asian Correspondent.... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, EXCLUSIVE: US files explain seizure of $250m superyacht in 1MDB scandal, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you EXCLUSIVE: US files explain seizure of $250m superyacht in 1MDB scandal

 

 

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Published By: ASIAN CORRESPONDENT - Friday, 2 March, 2018

 

 

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