Malaysia sells Equanimity, Jho Low’s superyacht at heart of 1MDB scandal, for US$126 million
- Low allegedly paid US$250 million for the yacht, which has an interior clad in marble and gold leaf, a 20-metre swimming pool and a helipad
Malaysia has agreed to sell a superyacht linked to a multibillion-dollar scandal at state fund 1MDB to casino operator Genting Malaysia Bhd for US$126 million, the country’s attorney general said on Wednesday.
The superyacht Equanimity is among assets allegedly bought by fugitive financier Low Taek Jho and his associates with money taken from the fund, the US and Malaysian officials have said.
Peek inside the 300-foot superyacht linked to 1MDB scandal that’s for sale at US$120 million discount
Low allegedly paid US$250 million for the yacht, which has an interior clad in marble and gold leaf, a spa and sauna, a 20-metre swimming pool, a movie theatre and helipad.
It had a guide price of US$130 million, according to yacht specialist Burgess, the sole broker for the sale.
Attorney General Tommy Thomas said the price offered by Genting was the best it had received, since the Equanimity was put up for sale last year. Genting will make payment by end of the month, he said.
“This judicial sale at US$126 million is historic, by any measure,” he said. “It records a high-water mark for our judicial system in ensuring that market value is secured for a vessel sold through the processes of Court, without any discount. It is even more commendable that this is achieved in a very sophisticated high-end superyacht sale where the pool of buyers is very small.”
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The Equanimity is part of a treasure trove of glitzy possessions once owned by Low, which have been the subject of legal wrangling and asset seizures around the world.
The US has filed forfeiture lawsuits against US$1.7 billion of assets that were allegedly acquired with money embezzled from 1MDB, including a US$1.29 million heart-shaped diamond and a US$3.8 million diamond pendant that Low gave to Australian model Miranda Kerr, as well as a US$3.2 million Picasso painting that Low gifted to actor Leonardo DiCaprio.
Both celebrities have since handed the gifts over to US authorities.
Low has repeatedly maintained his innocence and faces charges including money laundering in Malaysia. He has been charged in absentia amid suspicions that he is hiding out in China.
Additional reporting by Bloomberg
