A superyacht purchased with money pilfered from the Malaysian state fund 1MDB has been sold to casino operator Genting Malaysia Berhad.
The 91.5-meter luxury yacht Equanimity was bought on Wednesday, according to Malaysias Attorney General Tommy Thomas as cited by the Star newspaper.
The price offered by Genting was the best it had received since the yacht was put up for sale last year, he said. Genting will pay for it by end of the month.
“This judicial sale at USD$126 million (RM514.14 million), is historic, by any measure,” said Thomas. The deal “records a high-water mark for our judicial system in ensuring that market value is secured for a vessel sold through the processes of Court, without any discount.”
He added that “It is even more commendable that this is achieved in a very sophisticated high-end superyacht sale, where the pool of buyers is extremely small.”
Equanimity was among assets allegedly bought by Malaysias fugitive financier Low Taek Jho and his associates with money stolen from the fund. It was allegedly purchased for $250 million and was outfitted with a helipad, swimming pool, movie theatre, spa and sauna.
The US has filed forfeiture lawsuits against $1.7 billion of assets that were allegedly acquired with money embezzled from 1MDB, including a $1.29 million heart-shaped diamond and a $3.8 million diamond pendant that Low gave to Australian model Miranda Kerr. A $3.2 million Picasso painting was gifted by Low to actor Leonardo DiCaprio. Both celebrities have since handed the gifts over to US authorities.
Low, who has repeatedly maintained his innocence, faces charges including money laundering in Malaysia. He has been charged in absentia amid suspicions that he is hiding out in China.
The scandal with the Malaysian state fund has been making headlines for years and is being investigated in at least six countries. It involves high-ranking Malaysian officials incluRead More
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