Jho Low says handover of Equanimity superyacht ‘illegitimate’

(Aug 5): A central figure in a multi-billion dollar corruption scandal at a Malaysian state fund says a decision by Indonesia to hand over a US$250 million ($341.6 million) yacht to Malaysia violates US and Indonesia laws.

Low Taek Jho, described by US investigators as central to the 1Malaysia Development Bhd scandal, said in a statement Malaysia had decided to “illegitimately” acquire the 1MDB-linked yacht Equanimity. The Cayman Islands-flagged yacht was seized in February at the request of US authorities as part of the corruption investigation launched by the Department of Justice.

Indonesia has agreed to hand over the luxury yacht to Malaysia on Monday, Singapore’s Straits Times newspaper reported, citing government officials and financial executives close to the developments. Low was ordered by a US court in May to turn over the super yacht to US authorities, who planned to sail it from Indonesia and sell it in the US.

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