Indonesia govt seizes Jho Low's US$260 mil superyacht in Bali

Indonesia govt seizes Jho Low's US$260 mil superyacht in Bali

By: 
Michelle Zhu
28/02/18, 04:59 pm

SINGAPORE (Feb 28): Billionaire Low Taek Jho’s 300-foot luxury superyacht, The Equanimity, is reported to have been seized in Bali by the Indonesian government today.

The yacht is among several assets purchased through stolen funds from 1Malaysia Development Berhad (1MDB) that the US Department of Justice (DoJ) is moving to seize from Low, nicknamed Jho Low and often referred to as the mastermind of the 1MDB corruption scandal.

See: US moves to seize additional $747 mil of assets linked to 1MDB scandal

Valued at over US$260 million ($345 million), The Equanimity is built by Oceano and won the prize for prize for “Best in Show” at the Monaco Yacht Show in 2014.

Among the superyacht’s amenities are a helicopter landing pad, an on-board gymnasium, a cinema, a massage room, an experiential shower and a plunge pool. 

According to Reuters, television footage in Indonesia showed Indonesian officials talking to the crew on board the moored yacht.

"We have been inspecting the crew since yesterday and now we are taking action since we have received approval from the court to seize the boat," said Agung Setya, director of economic and special crimes at the Indonesia's criminal investigation bureau, on Metro TV.

Other 1MDB-linked assets which were reported to have been seized, or that the DoJ is seeking to seize, include Low’s Bombardier Global 5000 jet in Singapore; jewellery which Low had gifted to celebrities Miranda Kerr and Elvia Hsiao; and several properties, artwork and film rights.

See: How the 1MDB blockbuster starring Jho Low is dwarfing even Hollywood

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