Superyacht linked to Malaysia's 1MDB for sale, again

By TIN Media | Nation News Published 8 months ago on 1 November 2019
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MALAYSIA:

 

According to a listing by the yacht broker, a superyacht linked to a multibillion-dollar corruption scandal at Malaysian fund 1MDB is up for sale. The superyacht, Tranquility, earlier known as the Equanimity, is currently owned by resorts operator Genting Malaysia Bhd which bought it from the Malaysian government in April for $126m.

American and Malaysian investigators have said, The superyacht is among assets allegedly bought by fugitive financier Low Taek Jho and his associates with money taken from 1Malaysia Development Berhad (1MDB).

The 300-foot yacht has an interior clad in marble, a beach club, a Turkish bath, a 20 square meter (215 square foot) swimming pool, and a helipad, according to a listing by broker Camper and Nicholsons. The listing did not disclose the asking price for the yacht. It is unclear how long the yacht has been up for sale. Media reports on Saturday said Genting was asking $200m for the yacht, solely under the assumption.

Previously named Equanimity, the yacht was owned by Malaysian businessman Low Taek Jho, 37, better known as Jho Low. He has been accused of masterminding the looting hundreds of millions of dollars from Malaysia’s sovereign wealth fund, 1 MDB. Low is in hiding, believed by many to be in China. He has previously said that he has not broken any laws. Former prime minister Najib Razak, 66, is currently on trial in Kuala Lumpur for 1MDB-related charges.

1MDB, a now-defunct fund, is being investigated by at least six countries for money laundering and corruption.

The US Department of Justice has said about $4.5bn siphoned from 1MDB was used by Low and his associates to buy the yacht, a private jet, as well as Picasso paintings, jewelry, and real estate. Prime Minister, after his stunning victory in last year's election, has promised to recover the money allegedly stolen from 1MDB.

 

 


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