LUXURY YACHT WANTED BY US IN 1MDB CORRUPTION PROBE SEIZED IN BALI

CBS News reported on 28th February that Indonesia has seized a luxury yacht on Bali that is wanted by US authorities as part of a probe into alleged multibillion-dollar corruption involving Malaysian state investment fund, 1MDB – the 300 ft Equanimity.  In June 2017, the US DoJ filed a civil case seeking recovery of $540 million in assets, including the yacht, that it says were stolen from 1MDB, a fund set up by Malaysian Prime Minister Najib Razak that was intended to promote economic development.  Overall, the DoJ says more than $4.5 billion was stolen from the fund.

https://www.cbsnews.com/news/indonesia-seizes-equanimity-yacht-bali-wanted-corruption-malaysia-1mbd-fund/?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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