KUALA LUMPUR – Embattled financier Jho Low is asking the US to declare what it knows about the transfer of a US$250-million (RM1.02 billion) superyacht (RM1.02 billion) to Malaysia from Indonesia. The Justice Department had sought to seize the boat as part of its 1MDB probe.
Lawyers representing Low Taek Jho filed a notice yesterday to a California district court to direct the US government to reveal its knowledge of the yacht’s transfer. Low also wants the US to state any efforts it has made to secure the vessel in a status report by August 17, and say what actions the US has taken to get clarification of Malaysia’s intentions.
Thom Mrozek, a spokesman for the US attorney’s office in Los Angeles, said the US was not party to the agreement between Indonesia and Malaysia.
The yacht, which was seized by Indonesian police in February, is among the US$1.7 billion of assets that US investigators said were illegally bought using money diverted from the state investment fund 1Malaysia Development Bhd. Prime Minister Tun Dr Mahathir Mohamad thanked Indonesian President Joko Widodo for his cooperation in transferring the vessel, while calling for its owner to prove that the source of funds used to purchase it is legitimate and not from 1MDB.
Low’s lawyers oppose the US government’s request to suspend proceedings to allow it to find out what Malaysia plans to do with the asset, as the government isn’t entitled to imposing “undefined, indefinite” delays, they said in the filing.
Dr Mahathir is seeking to reclaim US$4.5 billion of funds potentially lost through the troubled state fund, including by trying to recover fees from Goldman Sachs Group Inc and taking legal action to recoup compensation paid to the fund’s ex-president. Malaysia is considering selling the yacht and returning the funds to the public, Finance Minister Lim Guan Eng said yesterday, adding that Attorney-General Tommy Thomas will first ensure proper proceedings are followed. Thomas is set to make an announcement today.
Malaysia has issued an arrest warrant for Low, who remains at large. The police received information from their Macau counterparts that he had left the territory for an unknown location as of early July, with no further insight on his whereabouts. ― Bloomberg
Heavily-escorted Equanimity docks in Port Klang, massive team enters for inspection
PORT KLANG – Controversial billionaire Jho Low’s superyacht Equanimity, accompanied by massive escort, has docked at the Terminal Boustead Cruise Center here at 12.40pm.
The yacht was brought here by Indonesian police with heavy escort by local marine police team from Johor and Port Klang.
Investigators from Bukit Aman Special Branch department, officers from the High Court, a team from Malaysian Anti-Corruption Commission, officers from the Attorney General’s Chambers (AGC), Navy and marine police boarded the yacht to conduct their respective investigation.
They are expected to take an hour. A police source said the main investigation team at the moment will be the team from the High Court and the AGC.
“The first step is to handle the legal procedures first, that’s why the team from the High Court and Attorney General is here, they will be given the main priority for now,” the source said.
A marine police spokesman told Malay Mail that the team of at least 50 policemen headed by six officers will be deployed to be in charge of security for the super yacht which is valued at US$250 million (RM1.02 billion).
Earlier in the day Special Branch director Datuk Abdul Hamid Bador and Selangor deputy police chief Datuk Ab Rashid Ab Wahab was spotted entering the terminal at 10.30am.
A large group of reporters and photographers started gathering at the terminal since 10am.
Members of the press were first not allowed to enter the terminal. However after an hour, a representative of the terminal finally agreed to allow the reporters and photographers in.
On August 4, Indonesia agreed to hand over to Malaysia the luxury yacht that was impounded in Bali earlier this year.
The Cayman Islands-flagged Equanimity was seized in February at the request of US authorities as part of a multi-billion dollar corruption investigation launched by the US Department of Justice (DoJ) related to 1MDB.
An Indonesian court ruling in April declared that the yacht was wrongfully impounded and should be released to its owners.
Yesterday, Finance Minister Lim Guan Eng said the government will auction off Jho Low’s yacht Equanimity to recover as much money as possible from the luxury boat.
DoJ has since said it has suspended its investigation pending Malaysia’s action. — Malay Mail
BLOOMBERG / MALAY MAIL
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