Malaysia has set a $130 million price tag for the Equanimity, a superyacht seized from a fugitive financier wanted in connection with a multi-billion dollar scandal at state fund 1MDB. (Reuters Photo/Lai Seng Sin)

Superyacht in Malaysia's 1MDB Scandal Can Be Yours for $130m

BY : LIZ LEE AND ROZANNA LATIFF

DECEMBER 16, 2018

Kuala Lumpur. Malaysia has set a $130 million price tag for a superyacht seized from a fugitive financier wanted in connection with a multi-billion dollar scandal at state fund 1MDB, a government lawyer said on Friday.

The Equanimity is among $1.7 billion in assets allegedly bought by financier Low Taek Jho, also known as Jho Low, and his associates with money taken from the fund, the United States Department of Justice has said.

Jho Low allegedly paid $250 million for the yacht which has an interior clad in marble and gold leaf, a spa and sauna, a 20-meter swimming pool, a movie theater and helipad.

The Admiralty Court set a guide price of $130 million for the 91-m yacht and the government will consider bids around that price, government lawyer Jeremy Joseph said.

The yacht was appraised by Winterbothams, an independent marine consultancy appointed by the court.

Malaysia and the United States are investigating how billions of dollars went missing from 1Malaysia Development Berhad (1MDB), with some of the money used to buy the yacht, a private jet, Picasso paintings, jewelry and real estate.

Lawsuits have identified Low as a central figure in the 1MDB scandal, but his whereabouts are unknown. He has said the seizure and sale of the yacht was "illegal and costly."

Reuters

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