(Mar 28): Low Taek Jho, the Malaysian financier accused by the US of orchestrating a scheme to siphon US$4.5 billion ($6 billion) from a government fund, is baulking at Justice Department plans to move his US$250 million yacht to the US from Indonesia.

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

“The government does not know how to properly maintain or market a luxury yacht as unique and distinctive as the M/Y ‘Equanimity,”’ lawyers said in a request Monday for an emergency order to keep it anchored in Bali. The attorneys represent the trusts that are fighting the US forfeiture lawsuit for the seized 300-foot vessel.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook