Indonesia is returning 1MDB-linked luxury yacht to Malaysia
The super yacht is said to be in waters off Batam, near Singapore
Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a months-long legal battle, a police official said on Sunday.
The Equanimity, believed to be worth some US$250 million, is on its way to a border location where it will be transferred to Malaysia, said Daniel Silitonga, deputy director of economic crimes at Indonesia’s national police. He said the yacht is currently near Batam island close to Singapore, but declined to say when or where the transfer will happen.
Indonesian police working with the FBI seized the yacht off Bali in February but faced a legal challenge from a Cayman Islands company registered as its owner.
The US Department of Justice alleges in civil lawsuits that huge sums of money were stolen from Malaysia’s 1MDB investment fund – set up by former Prime Minister Najib Razak – in a huge fraud and money-laundering scam.
The fund and Najib, who lost an election earlier this year, deny any wrongdoing.