AGCC lawyerJeremy Joseph speaks to the reporters about the seized luxury yacht Equanimity, purportedly belonging to fugitive businessman Low Taek Jho, or better known as Jho Low which arrived at Boustead Cruise Center in Port Klang Malaysia, August 7, 2018.
PORT KLANG – The government said it has laid claim on Equanimity as they believe public funds were misused to purchase the billion-ringgit superyacht.
Lawyer Jeremy Joseph, who is representing 1Malaysia Development Berhad (1MDB), said the claim on the boat, which allegedly belongs to fugitive financier Jho Low, was based on civil forfeiture suits made by the United States Department of Justice (DOJ) last year.
Joseph, who was among a team that had entered the yacht after it arrived here today at 12.40pm, said while the old management of 1MDB had denied that its funds were used to purchase Equanimity, the new management felt otherwise.
“Our 1MDB legal team was appointed by the Attorney General’s Chambers to represent both the investment firm and Putrajaya.
“We have initiated an admiralty suit, which basically means we can ‘arrest’ the vessel and in order to do that, in pursuant to our rules, we need to get the sheriff to stick the warrant of arrest on the vessel.
“This was the purpose of our visit today,” he told reporters at the Terminal Boustead Cruise Center where the yacht is docked.
Joseph said his team had submitted for the warrant of arrest at the Admiralty Court in Kuala Lumpur yesterday, in which they said 1MDB funds had been misappropriated in four tranches to purchase the Equanimity.
He said with the matter now in court anyone who claims to own the yacht on paper has a right to establish their ownership.
Joseph said that it would take six to nine months for the court to determine who will be the rightful owner of the yacht.
“Maybe the process could be completed sooner, it all depends on how many people contest for ownership,” he said adding that his team had also asked for an order of sale for the yacht as it’s expensive to maintain it.
When asked how much maintenance would cost, Joseph said he estimates it to be at least RM3 million a month.
He said the lawyers also met with the Norwegian captain Oystein Senneseth and his 16 crew members who were hired just three weeks ago.
“They are all well and will be maintained as the crew, for now, but the matter of their pay will be decided in court.”
When asked to describe the Equanimity, Joseph said it was classy and beautiful, with the interior of the ship mainly made of marble and timber. – MALAY MAIL
PAC to reopen 1MDB probe
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KUALA LUMPUR― The Public Accounts Committee (PAC) will reopen investigations into state investment firm 1Malaysia Development Bhd (1MDB), newly-appointed PAC deputy chairman Wong Kah Woh said today.
Wong said he will be discussing the matter with PAC chairman Datuk Ronald Kiandee and other members of the committee on having a more comprehensive and in-depth report of the corruption case and to bring new statements to Parliament.
“The previous PAC was neglectful in its responsibility to look after public accounts. Even though the Opposition had urged for more investigations into 1MDB before, the PAC failed to re-investigate even after new statements were revealed by the US Department of Justice since July 2016,” he said.
Wong claimed that the PAC was used as a tool of the previous government to clear former Prime Minister Datuk Seri Najib Razak’s name, losing the people’s confidence in the process.
Wong said that the new Pakatan Harapan (PH) government was committed to reinstating the credibility of the PAC by keeping to its promise and appointing an opposition MP as its chairman.
Kiandee and Wong were appointed to lead the PAC earlier in Dewan Rakyat.
The remaining members will be chosen by the Selection Committee later on.
Wong also said the PAC will consider the possibility of opening up proceedings to the public to allow for greater transparency, except for proceedings involving national security. – Malay Mail
MALAY MAIL
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