1MDB-linked super yacht seized off Bali

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Indonesian authorities seized a luxury yacht off the tourist island of Bali wanted by U.S. authorities. The move came as part of a probe into an alleged high-profile multibillion-dollar corruption, embezzlement and  money laundering case involving Malaysian state investment fund 1Malaysia Development Berhad, or 1MBD, and top government figures.

Indonesian TV on February 28 showed local police and what it identified as FBI officers on board of the vessel, Equanimity, moored off Bali. The action followed an official approval by an Indonesian court.

The $260-million Equanimity was allegedly purchased by Jho Taek Low, an associate of Malaysian Prime Minister Najib Razak. Low has been identified by U.S. authorities as the mastermind in a scheme to steal from the state investment fund.

In June, the U.S. Justice Department filed a civil case seeking recovery of $540 million in assets, including the yacht, that it says were stolen from 1MDB. Overall, the Justice Department says more than $4.5 billion was stolen from the fund.

Maritime data shows that the yacht cruised across Southeast Asian waters in the past six months with stops in Cambodia, Thailand, Bali and some of Indonesia’s tiniest islands. Low, who was reportedly dividing his time between the Equanimity and The Peninsula hotel in Shanghai, was not on board at the time of the seizure. Indonesian police is now inspecting the vessel’s crew.

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Reading Time: 1 minute

Indonesian authorities seized a luxury yacht off the tourist island of Bali wanted by U.S. authorities. The move came as part of a probe into an alleged high-profile multibillion-dollar corruption, embezzlement and  money laundering case involving Malaysian state investment fund 1Malaysia Development Berhad, or 1MBD, and top government figures.

Reading Time: 1 minute

Indonesian authorities seized a luxury yacht off the tourist island of Bali wanted by U.S. authorities. The move came as part of a probe into an alleged high-profile multibillion-dollar corruption, embezzlement and  money laundering case involving Malaysian state investment fund 1Malaysia Development Berhad, or 1MBD, and top government figures.

Indonesian TV on February 28 showed local police and what it identified as FBI officers on board of the vessel, Equanimity, moored off Bali. The action followed an official approval by an Indonesian court.

The $260-million Equanimity was allegedly purchased by Jho Taek Low, an associate of Malaysian Prime Minister Najib Razak. Low has been identified by U.S. authorities as the mastermind in a scheme to steal from the state investment fund.

In June, the U.S. Justice Department filed a civil case seeking recovery of $540 million in assets, including the yacht, that it says were stolen from 1MDB. Overall, the Justice Department says more than $4.5 billion was stolen from the fund.

Maritime data shows that the yacht cruised across Southeast Asian waters in the past six months with stops in Cambodia, Thailand, Bali and some of Indonesia’s tiniest islands. Low, who was reportedly dividing his time between the Equanimity and The Peninsula hotel in Shanghai, was not on board at the time of the seizure. Indonesian police is now inspecting the vessel’s crew.

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