Malaysia Says Indonesia Returned Yacht Bought with Looted 1MDB Funds
Malaysian Prime Minister Mahathir Mohamad says Indonesia has returned a luxury yacht linked with the multi-billion dollar scandal involving sovereign wealth fund 1MDB. The yacht, dubbed Equanimity, was seized by Indonesian authorities off the resort island of Bali in February at the request of the U.S. Justice Department, which claims a total of $4.5 billion was looted from 1MDB. The Cayman Islands-registered vessel, believed to be worth $250 million, was bought by Malaysian financier Low Taek Jho, who U.S. officials say bought the luxury boat with stolen 1MDB funds. Prime Minister Mahathir thanked Indonesia for the return of the luxury yacht in a Facebook post Monday. A spokesman for Mahathir says the yacht will arrive in Malaysia in 48 hours. The U.S. Justice Department says some of the $4.5 billion stolen from 1MDB landed in the personal bank accounts of former Prime Minister Najib Razak, who created the state-owned fund while in office. Najib was arrested last month and charged with three counts of criminal breach of trust and one count of corruption. He has pleaded not guilty to the charges, which carry a maximum prison sentence of 20 years. His trial is tentatively set to begin next February. The scandal led to the stunning electoral victory in May by a coalition led by the 92-year-old Mahathir over Najib's National Front coalition, which had ruled Malaysia uninterrupted since gaining independence in 1957 - 22 of those years under Mahathir himself. Since his ouster, Najib has been barred from leaving Malaysia and questioned by the government's anti-graft agency along with his wife, Rosmah Mansor. Just days before his arrest, Malaysian police said they had seized nearly $275 million in cash, jewelry and luxury handbags in raids on properties linked to Najib. The inventory included 12,000 pieces of jewelry, 567... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Malaysia Says Indonesia Returned Yacht Bought with Looted 1MDB Funds, simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you
Published By: VOA NEWS - Monday, 6 August, 2018
- In the last 5 hours
- Vote! ‘King Kong’ poster, Basquiat among returned 1MDB loot by Wolf of Wall Street producer SOUTH CHINA MORNING POST (Today) - A vintage French King Kong poster, a Jean-Michel Basquiat drawing, and several luxury watches are among the latest haul of returned treasures that were allegedly bought with money stolen from...
- In the last 12 hours
- Vote! Vintage film posters among the 1MDB loot being returned after Najib’s stepson Riza Aziz spent US$5.4 million to decorate his flat SOUTH CHINA MORNING POST (Yesterday) - A vintage French King Kong poster, a Jean-Michel Basquiat drawing, and several luxury watches are among the latest haul of returned treasures that were allegedly bought with money stolen from...
- In the last 24 hours
- Vote! Malaysia’s ex-attorney general Apandi Ali sues politician Lim Kit Siang over 1MDB scandal SOUTH CHINA MORNING POST (Yesterday) - Malaysia’s former attorney general has launched a defamation suit against a senior politician for allegedly implicating him in the looting of state-run investment fund 1Malaysia Development Berhad.Mohamed Apandi Ali, who...
Popular Asia Job Post Articles
- - IMF cut global growth GDP in 2019 to 3.3% warning of higher risk
- - Floods force millions to flee homes in India, Nepal and Bangladesh
- - Investors make DSI complaint against 'forex fraudster'
- - Derailment halts southern train services
- - Koreans find crying babies most annoying on flights
- - Pheu Thai top brass back Chadchart for Bangkok governor
- - PHUKET XTRA: VIDEO: Park electrocution! Pilot praised for sacrifice! Human skeletons found? || July 15
- - Malaysia’s ex-attorney general Apandi Ali sues politician Lim Kit Siang over 1MDB scandal
- - New reporting requirement for digital asset trading
- - How China Will Dominate Taiwan’s 2020 Presidential Election Campaign