Visit our new website: worldnews.easybranches.com

Indonesia returning yacht at center of Malaysia graft probe

  • Sun, 05 Aug 2018 18:13
Author: 
AP
ID: 
1533442877139318200
Sun, 2018-08-05 (All day)

JAKARTA, Indonesia: Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said Sunday,
The $ 250 million Equanimity 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 Justice Department, one of several foreign agencies investigating the alleged multibillion dollar looting of the 1MDB state fund by associates of former Malaysian Prime Minister Najib Razak, had listed the yacht among the assets it could seize and sell to recover stolen funds.
“We will hand over the yacht soon,” Silitonga said. “Special arrangements have been made by the two countries based on good relations.”
At the time of the seizure, Malaysia was not cooperating with international investigations into 1MDB. But the massive corruption scandal in May led to the electoral defeat of Najib, who is now facing charges.
Malaysian and international authorities want to question Malaysian financier Jho Low, who the Justice Department alleges was a key figure in the theft and international laundering of $ 4.5 billion from 1MDB.
Low, who has so far evaded investigators, issued a statement through his US attorney on Sunday, protesting the handover of the yacht.
“Actions like this make it increasingly clear that there is no jurisdiction where the issues in this case can be subject to a fair hearing, thanks to a global media circus fueled by politically motivated parties whose aim is to convict Mr. Low in the public arena,” the statement said.
The Equanimity’s lavish amenities include a helicopter landing pad, plunge pool, gymnasium and a cinema.
It was built in 2014 by the Dutch yacht manufacturer Oceano, which received detailed instructions from Low about its outfitting, according to the Justice Department’s asset recovery case.

Main category: 
Indonesian prison conditions leading to bribery of wardensMalaysia’s former first lady in lawsuit over $ 14.8m jewelry World

Tags


Daily Deal

Related Stories

World’s top glovemaker under fire in Malaysia over migrant workers’ rights
  • Sat, 08 Dec 2018 21:53

Author: ReutersID: 1544262324897983400Sat, 2018-12-08 09:35 KUALA LUMPUR: Malaysian labor rights groups have called for an investigation in...

Indonesia aviation in spotlight after Lion Air crash
  • Thu, 29 Nov 2018 20:46

Author: Kiki Siregar | AFPID: 1543473318169507100Thu, 2018-11-29 05:10 JAKARTA: Bumpy runways, hair-raising safety lapses, remote airstrips...

Manafort allegations throw new uncertainty into Russia probe
  • Wed, 28 Nov 2018 10:15

Author: By ERIC TUCKER and CHAD DAY | APID: 1543369280690750700Wed, 2018-11-28 05:00WASHINGTON: The breakdown of a plea deal with former Tru...

Malaysia says former PM Najib’s office ordered changes to 1MDB audit report
  • Sun, 25 Nov 2018 19:48

Author: ReutersID: 1543131017648982100Sun, 2018-11-25 07:17 KUALA LUMPUR: The office of former Malaysian premier Najib Razak ordered change...

Finns held in Muslim Malaysia over ‘Christian pamphlets’
  • Wed, 21 Nov 2018 18:04

Author: AFPID: 1542788181077704900Wed, 2018-11-21 08:07 KUALA LUMPUR: Four Finns have been arrested on a holiday island in Muslim-majority ...

Lebanon to form body to probe civil war disappearances
  • Tue, 13 Nov 2018 09:02

Author: Associated PressID: 1542053355750573000Mon, 2018-11-12 (All day) BEIRUT: Lebanon’s parliament on Monday approved the formation of...

Turkey orders 103 soldiers arrested in Gulen probe
  • Sat, 10 Nov 2018 04:12

Author: Fri, 2018-11-09 22:36 ISTANBUL: Turkish prosecutors ordered the detention of 103 soldiers with suspected links to the US-based cleric ac...

Tearful relatives of Indonesia jet crash victims demand answers
  • Mon, 05 Nov 2018 15:52

Author: ReutersID: 1541401942706631100Mon, 2018-11-05 07:02 JAKARTA: Relatives of the victims of an Indonesian jet that crashed into the se...

Saudi King Briefs Putin on Khashoggi Probe
  • Fri, 26 Oct 2018 04:34

Custodian of the Two Holy Mosques King Salman bin Abdulaziz telephoned on Thursday Russian President Vladimir Putin, reported the Saudi Press Agency. ...

World Bank offers disaster-hit Indonesia $1 billion in loans
  • Sun, 14 Oct 2018 18:06

Author: AFPID: 1539499974718605000Sun, 2018-10-14 06:33 NUSA DUA, Indonesia: The World Bank on Sunday announced funding of up to $ 1 billio...

Indonesia calls off grim search for dead in quake-tsunami
  • Thu, 11 Oct 2018 19:57

Author: AFPID: 1539250996635310700Thu, 2018-10-11 12:43 PALU, Indonesia: Indonesia on Thursday called off the grim search for those killed ...

Malaysia to abolish death penalty
  • Thu, 11 Oct 2018 18:19

Author: Thu, 2018-10-11 12:44 Malaysia’s cabinet has agreed to abolish the death penalty, a senior minister said Thursday, with more than 1,20...


الاقسام