Jho Low, currently wanted by Malaysia’s Anti-Corruption Commission on charges related to 1MDB, has spent a fair amount of his notorious time in the spotlight denying that he was the proprietor of the (now seized) superyacht, Equanimity.
It wasn’t his, you see – he just spent a whole lot of time traveling and living on it.
However, now that it is currently in the possession of the Malaysian government, Mr. Low has reached out via his United States lawyers for updates on its fate.
A lot of concern over something he alleges isn’t his, but we can reveal that the floating monstrosity is currently docked in our very own Monte Carlo-esque (or not) marina in Port Klang.
Lawyers filed a notice yesterday with a California district court, asking for US government officials to reveal what they know of the yacht’s transfer into Malaysian hands, and what Malaysia’s intentions were for the vessel.
A spokesman for the US attorney’s office has responded, telling Low’s legal team that the US is not privy to the arrangements made between Indonesia (where the yacht was originally seized in February this year), and Malaysia.
Two days ago, he called the handover “unlawful.”
US Department of Justice officials have long alleged that the gargantuan yacht was bought with ill-gotten gains siphoned off of Malaysia’s sovereign wealth fund, 1MDB. DoJ estimates that they have tracked over US$1.7 billion diverted from the fund to acquire different assets ranging from said superyacht, to real estate, to art, to even the financing of a Hollywood film.
Malaysia’s Prime Minister, Tun Dr Mahathir Mohamad, is now calling for the nebulous “owner” of the yacht to come forward, and prove that the yacht was purchased using legitimate, traceable funds.
The newly-elected government is seeking to reclaim what they say could amount to US$4.5 billion taken from 1MDB.
This includes the uphill legal battle of trying to recover fees paid out to the investment bank, Goldman Sachs, and compensation paid to the fund’s ex-president.
While the fate of the boat remains up in the air, Finance Minister Lim Guan Eng has not ruled out selling the vessel, and returning the funds to the public.
Any decision made on the Equanimity’s future will need to be endorsed by Attorney-General Tommy Thomas, who will first ensure proper proceedings are followed in the matter.
Thomas is set to make an announcement today.
