Indonesia seized the $260 million yacht of Jho Low, the man at the center of the 1MDB corruption scandal. The move set off weeks of haggling over the craft's fate.
The U.S. Justice Department alleges Low Taek Jho, known as Jho Low, acquired the superyacht «The Equanimity», with stolen government funds. A Los Angeles judge ruled overnight that the yacht can be sailed from Indonesia to the U.S., five weeks after it was seized, according to a «Bloomberg» report.
A district court judge repudiated requests by the trusts holding title to the yacht to keep it berthed in Bali while they challenge the legality of the seizure of the luxury vessel. The trusts alleged in court that U.S. officials wouldn't take proper care of the craft, for example by understaffing it.
Diamonds, Fine Art
Indonesia’s crime investigation bureau confiscated the $260 million «Equanimity» in Bali on February 28. The yacht is equipped with a helicopter landing pad and received an award as «Best in Show» at the Monaco Yacht Show in 2014.
The U.S. Department of Justice has been hunting down proceeds of the alleged 1MDB fraud to a wide array of purchases including properties in New York, London and Beverly Hills, a private jet, diamond jewellery; and artwork by Jean-Michel Basquiat, Pablo Picasso, Vincent van Gogh and others.
