Equanimity Mega Yacht that was Confiscated by a Corruption Plot Sells for 126 Million Dollars (VIDEO)

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The vessel, 91.5 meters in length and with the flag of the Cayman Islands, is part of the money diverted by the state fund 1Malaysia Development Berhad.

The Malaysian government announced on Wednesday the $ 126 million sale of the Equanimity yacht, confiscated from the financial officer required by Jho Low, accused of being one of the brains behind the embezzlement of the Malaysian investment arm 1MDB .

The vessel, 91.5 meters in length and with the flag of the Cayman Islands, is part of the money diverted by the state fund 1Malaysia Development Berhad (1MDB), according to both open processes in Malaysia and the United States.

The Malaysian authorities, who last year put the boat to auction with a starting price of 250 million dollars (22 million euros), agreed to the sale with the Malaysian company Genting, which operates several leisure complexes, reports today the Office of the Attorney General.

The yacht, which is anchored in a port of the Marina on the island of Langkawi, will be delivered to its new owners at the end of April, when payment will also be made.

The official statement states that Genting’s offer was “the best” among those received, of which many were less than 100 million dollars (89 million euros).

The vessel was confiscated on the Indonesian island of Bali in February 2017, at the request of the US Department of Justice, and has a swimming pool, heliport, gym, garage, movie theater, among other amenities.

The announcement of the sale coincides with the start in the High Court of Kuala Lumpur of the first corruption trial against former Prime Minister Najib Razak, the main defendant of the plot.

Najib, on whom a total of 42 charges of corruption hang, and his associates diverted 4.500 million dollars (4.010 million euros) from the 1MDB, a scandal that caused his fall in the elections last May.

Of that enormous amount, the politician, 65 years old and who led the nation from 2009 to 2018, appropriated some 2,600 million ringgit (at the current exchange rate 637 million dollars or 567 million euros), according to an investigation in 2015 journalistic.

In addition to Kuala Lumpur, half a dozen countries – among them the United States, Switzerland or Singapore – continue with the investigations linked to the embezzlement of the Malaysian state fund.

The Department of Justice of the United States figures the deviated money of 1MDB in 4,500 million dollars (4,010 million euros), of which about 1,000 million dollars (891,000 euros) would have been laundered in their country with the purchase of real estate, yachts , jewelry and works of art, among other goods.

Low, considered the brain of the internationalization of the plot, remains unaccounted for.

1MDB was created in 2009 by Najib and chaired by it until 2016 to attract foreign investment and create a financial district in Kuala Lumpur, but ended up accumulating losses of 42 billion ringgit (about 10,300 million dollars or more than 9,170 million euros).

 

Source: InfoBae