Seizure of 1MDB-linked luxury yacht declared unlawful

Reading Time: 1 minute

Seizure of 1MDB-linked luxury yacht declared unlawfulA Jakarta court has ruled against the Indonesian police’s seizure of a luxury yacht wanted as part of a US probe into alleged multibillion-dollar theft and laundering of funds from Malaysian state investment fund 1MDB.

The South Jakarta District Court on April 17 sided with lawyers for the yacht’s owner, who argued the seizure was not carried out in accordance with Indonesian law.

Indonesian police seized the $250 million Equanimity off Bali on February 28 in cooperation with the FBI but were prevented from handing it over to the US after a legal challenge from the yacht’s Cayman Islands-registered holding company.

The Equanimity is among assets the US alleges were bought by Malaysian national Jho Low using money stolen from 1MDB and laundered through Singapore, Switzerland, Luxembourg and the US.

Share your vote!


Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

A Jakarta court has ruled against the Indonesian police's seizure of a luxury yacht wanted as part of a US probe into alleged multibillion-dollar theft and laundering of funds from Malaysian state investment fund 1MDB. The South Jakarta District Court on April 17 sided with lawyers for the yacht's owner, who argued the seizure was not carried out in accordance with Indonesian law. Indonesian police seized the $250 million Equanimity off Bali on February 28 in cooperation with the FBI but were prevented from handing it over to the US after a legal challenge from the yacht's Cayman Islands-registered holding...

Reading Time: 1 minute

Seizure of 1MDB-linked luxury yacht declared unlawfulA Jakarta court has ruled against the Indonesian police’s seizure of a luxury yacht wanted as part of a US probe into alleged multibillion-dollar theft and laundering of funds from Malaysian state investment fund 1MDB.

The South Jakarta District Court on April 17 sided with lawyers for the yacht’s owner, who argued the seizure was not carried out in accordance with Indonesian law.

Indonesian police seized the $250 million Equanimity off Bali on February 28 in cooperation with the FBI but were prevented from handing it over to the US after a legal challenge from the yacht’s Cayman Islands-registered holding company.

The Equanimity is among assets the US alleges were bought by Malaysian national Jho Low using money stolen from 1MDB and laundered through Singapore, Switzerland, Luxembourg and the US.

Share your vote!


Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

NO COMMENTS

Leave a Reply