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... If you wish to read this full breaking news headline article, Malaysia Says Indonesia Returned Yacht Bought with Looted 1MDB Funds, simply click on 'Read full story' below, but 1st please give 'Phuket Hotel Deals' a 'LIKE' or 'SHARE' before you visit 'VOA NEWS'. Thank you
Popular Asia News Articles
- - How could a sharp slowdown in China affect growth prospects for the rest of Asia?
- - Explained: the CPTPP trade deal
- - Li Rui: The old guard Communist who was able to criticise Xi Jinping
- - Sri Lanka's last-wicket win stuns SA
- - Pulwama attack: India mourns Kashmir dead
- - Stockholm Furniture & Light Fair – a growing force on the international design scene
- - Kim Jong Un to Arrive in Vietnam on Feb. 25 Ahead of Trump Summit
- - Explained: Malaysia’s 1MDB scandal
- - Kashmir attack: is terror group JeM pushing India and Pakistan to the brink of war?
- - Arrest of Journalist Maria Ressa Casts Pall on Philippines Journalistic Independence
- In the last 12 hours
- Vote! Explained: Malaysia’s 1MDB scandal SOUTH CHINA MORNING POST (Today) - 1Malaysia Development Berhad (1MDB) is a state investment fund that came under investigation for a...
- In the last 24 hours
- Vote! Saudi Crown Prince Mohammed bin Salman suddenly postpones Malaysia and Indonesia visits SOUTH CHINA MORNING POST (Yesterday) - Saudi Arabia’s Crown Prince Mohammed bin Salman is postponing his trips to Indonesia and Malaysia,...
- Older News
- Vote! 1MDB scandal: former Goldman Sachs banker Roger Ng returning to US to face charges SOUTH CHINA MORNING POST (2 days ago) - Roger Ng, a former Goldman Sachs banker accused of playing a role in defrauding sovereign...