BREAKING NEWS

Superyacht in Malaysia scandal can be yours for $130 million

Superyacht in Malaysia scandal can be yours for $130 million
FILE PHOTO: Seized luxury yacht Equanimity, belonging to fugitive Malaysian financier Low Taek Jho, is brought to Boustead Cruise Terminal in Port Klang, Malaysia August 7, 2018. REUTERS/Lai Seng Sin/File Photo -
Copyright
Lai Seng Sin(Reuters)
Euronews logo
Text size Aa Aa

KUALALUMPUR (Reuters) – Malaysia has set a $130 million (103.07 million pounds) pricetag for a superyacht seized from a fugitive financier wanted in connection with a multi-billion dollar scandal at state fund 1MDB, a government lawyer said on Friday.

The Equanimity is among $1.7 billion in assets allegedly bought by financier Low Taek Jho, also known as Jho Low, and his associates with money taken from the fund, the U.S. Department of Justice has said.

Jho Low allegedly paid $250 million for the yacht which has an interior clad in marble and gold leaf, a spa and sauna, a 20-metre (66-ft) swimming pool, a movie theatre and helipad.

The Admiralty Court set a guide price of $130 million for the 300-ft (91-m) yacht and the government will consider bids around that price, government lawyer Jeremy Joseph said.

The yacht was appraised by Winterbothams, an independent marine consultancy appointed by the court.

Malaysia and the United States are investigating how billions of dollars went missing from 1Malaysia Development Berhad (1MDB), with some of the money used to buy the yacht, a private jet, Picasso paintings, jewellery and real estate.

Lawsuits have identified Low as a central figure in the 1MDB scandal, but his whereabouts are unknown. He has said the seizure and sale of the yacht was “illegal and costly.”

(Reporting by Liz Lee and Rozanna Latiff; editing by Darren Schuettler)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.