Seizure of 1MDB-linked luxury yacht declared unlawful

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.



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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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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