Luxury yacht linked to 1MDB scandal arrives in Malaysia

The'Equanimity, now returned to MalaysiaMore

Malaysia's marine police on their security boat watch luxury yacht Equanimity, allegedly bought with money stolen from the multibillion-dollar looting of a state investment fund, arriving at Port Klang in Klang, Malaysia, Tuesday, Aug. 7, 2018.

In the video, Dr Mahathir also expressed his gratitude to the Indonesian government for its cooperation in returning the seized super yacht to the Malaysian government.

Finance Minister Lim Guan Eng said the yacht has set sail from the Indonesian island of Batam near Singapore and arrived in Malaysia's Port Klang on Tuesday.

An aide said it will be in Malaysian territory within 48 hours.

His lawyers opposed the U.S. government's request to suspend proceedings to allow it to find out what Malaysia plans to do with the asset, as the government isn't entitled to imposing "undefined, indefinite" delays, they said in the filing.

Mahathir ousted his predecessor and former protege Najib Razak in an election in May, and immediately launched an investigation into 1MDB.

Najib has so far pleaded not guilty to all charges against him.

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Najib set up 1MDB when he took power in 2009, but it accumulated billions in debts.

Lawyers representing the wanted financier, also known as Jho Low, filed a notice yesterday to a California district court to direct the USA government to reveal its knowledge of the yacht's transfer. Following the handover of the yacht to Malaysia, the Justice Department has sought to suspend legal proceedings to determine what Malaysia plans to do with the vessel.

Malaysian and global authorities want to question Malaysian financier Low Taek Jho, who the Justice Department alleges was a key figure in the theft and worldwide laundering of $4.5 billion from 1MDB.

Mahathir said any claimants to the yacht should provide proof that it belonged to them, and where they got the money to pay for it.

The DoJ filed a series of civil lawsuits in California, the USA aiming to seize some US$1.7 billion (RM6.95 billion) worth of assets - including the yacht, a private jet, mansions, art works, jewellery, and film rights - that were purchased using funds stolen from 1MDB.

It has previously been reported that a total of 42 million Malaysian ringgit ($14 million) was transferred from SRC International, through two intermediary entities, into Najib's private accounts with AmBank.

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