March 13 2018
The seizure of the luxury yacht Equanimity at Benoa Harbor, Bali, is a slap in the face for the government of Malaysian Prime Minister Najib Razak. Thought to have been bought from the proceeds of embezzlement from the government investment institution 1Malaysia Development Berhad (1MDB), the yacht was seized by Indonesian police acting on a request from the United States Federal Bureau of Investigation (FBI).
The Equanimity is thought to have been bought to launder money from the scandal. According to a US court, the vessel, which is registered in the Cayman Islands, was bought by Malaysian tycoon Jho Low. Other assets Low is alleged to have purchased with 1MDB funds include private jets, hotels, real estate in New York and shares in EMI music. Low is said to be Prime Minister Najib’s business adviser and to have close links with several Malaysian ministers.
