Indonesian Officials Seize 1MDB-linked Yacht; Prepare to Hand It Over to FBI

Acting on a request from the FBI made in late February, Indonesian officials have seized the luxury yacht Equanimity at Benoa Harbor in Bali, Indonesia. Investigators suspect the yacht was bought with the proceeds of embezzlement from 1Malaysia Development Berhad (1MDB), a Malaysian government-owned investment company. The yacht was allegedly bought to launder money during the 1MDB scheme. U.S. court documents reveal that Equanimity is registered in the Cayman Islands and was purchased by Malaysian businessman Jho Low. While Lo did not hold any official position in the Malaysian government, he is purported to have acted in a senior advising capacity, and to have made high-level financial decisions with regards to 1MDB. There were reportedly 29 crew members aboard the yacht when Indonesian officials seized it. While none of the crew members have been arrested as of yet, officials have questioned them as part of the investigation. According to documents obtained by Asian…

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