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Indonesia to hand over luxury yacht amid 1MDB probe
March 09, 2018
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JAKARTA: Indonesia is making preparations to hand over a luxury yacht seized in Bali last month to US authorities targeting assets allegedly bought with money siphoned off from a Malaysian state fund, a police official said on Thursday.

The Cayman Islands-flagged Equanimity was impounded by Indonesia amid a multi-billion dollar corruption investigation launched by the US Department of Justice (DOJ) and tied to 1Malaysia Development Berhad (1MDB). Indonesian police and the US Federal Bureau of Investigation (FBI) were “preparing paperwork” for a hand over of the ship, said Daniel Silitonga, deputy director of economic and special crimes at Indonesia’s criminal investigation bureau.

Silitonga said authorities had taken the vessel’s logbook but a search had not found any money on board.

Police have also questioned the captain and crew but had found no link to an investigation into money laundering, said Agung Setya, director of economic and special crimes at Indonesia’s criminal investigation bureau.

1MDB is at the centre of money-laundering probes in at least six countries, including the United States, Switzerland and Singapore.

A total of $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates, according to civil lawsuits filed by the DOJ.

Malaysian Prime Minister Najib Razak set up 1MDB in 2009 and previously served as chairman of its advisory board. He and the fund have denied any wrongdoing.

Agence France-Presse

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