Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said yesterday. The USD250 million Equanimity is on its way to a border location where it will be transferred to Malaysia, said Daniel Silitonga, deputy director of economic crimes at Indonesia’s national police. He said the yacht is currently near Batam island close to Singapore, but declined to say when or where the transfer will happen.
The yacht belongs to Malaysian financier Jho Low, who the Justice Department alleges was a key figure in the theft and international laundering of $4.5 billion from 1MDB. Low, who has so far evaded investigators, issued a statement through his U.S. attorney yesterday, protesting the handover of the yacht. “Actions like this make it increasingly clear that there is no jurisdiction where the issues in this case can be subject to a fair hearing, thanks to a global media circus fueled by politically motivated parties whose aim is to convict Mr. Low in the public arena,” the statement said. Low reportedly hid in Macau and is believed to be in China.
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