• Malaysia launches sale of superyacht linked to graft scandal

    18 days ago - By Chron

    KUALA LUMPUR, Malaysia - Malaysia's government launched a one-month auction Monday for a luxury yacht bought with money stolen from the multibillion-dollar looting of a state investment fund.
    The sale came nearly three months after Indonesia returned the $250 million yacht, Equanimity, after it seized off Bali in February in cooperation with the U.S. FBI. The U.S. Justice Department, one of several foreign agencies investigating a massive graft scandal at the 1MDB fund, had listed the yacht among the assets it could seize and sell to recover stolen funds.
    U.S.
    Read more ...

     

  • Malaysia launches sale of superyacht linked to graft scandal

    18 days ago - By Chron

    KUALA LUMPUR, Malaysia - Malaysia's government has launched a one-month auction for a luxury yacht bought with money stolen from the multibillion-dollar looting of a state investment fund.
    The sale that began Monday came nearly three months after Indonesia returned the $250 million yacht, Equanimity, after seizing it off Bali in February in cooperation with the U.S. FBI. The U.S. Justice Department, one of several foreign agencies investigating a massive graft scandal at the 1MDB fund, had listed the yacht among the assets it could seize and sell to recover stolen funds.
    Ong Chee Kwan, a...
    Read more ...