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Tags: APFN | AS | Malaysia | Corruption | Yacht Sale

Malaysia to Sell Yacht at Center of 1MDB Scandal for $126M

Wednesday, 03 April 2019 12:38 AM

KUALA LUMPUR, Malaysia (AP) — Malaysia's government says a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for $126 million, half its original price.

Attorney-General Tommy Thomas says the Admiralty Court on Wednesday approved the sale of the Equanimity, which has lavish amenities including a helicopter landing pad, plunge pool, gymnasium and a cinema.

U.S. investigators say the yacht was bought with funds diverted from the 1MDB fund by Malaysian financier Jho Low, believed to be a key figure in the theft and laundering of $4.5 billion from 1MDB.

The 1MDB scandal led to ex-Prime Minister Najib Razak's shocking electoral defeat last May and multiple criminal charges. His first corruption trial is due to begin later Wednesday.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Malaysia's government says a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for $126 million, half its original price.Attorney-General Tommy Thomas says the Admiralty Court on Wednesday...
APFN,AS,Malaysia,Corruption,Yacht Sale
129
2019-38-03
Wednesday, 03 April 2019 12:38 AM
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