Indonesia To Hand Over Yacht Linked To 1mdb To Malaysia

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Indonesia To Hand Over Yacht Linked To 1mdb To Malaysia

KUALA LUMPUR – Indonesia has agreed to hand over to Malaysia a $250 million luxury yacht linked to a corruption scandal at a Malaysian state fund that it impounded in Bali earlier this year, Indonesian authorities said on Saturday.

The Cayman Islands-flagged Equanimity was seized in February at the request of U.S. authorities as part of a multi-billion dollar corruption investigation launched by the Department of Justice (DOJ) related to 1Malaysia Development Berhad (1MDB).

An Indonesian court ruling in April declared that the yacht was wrongfully impounded and should be released to its owners.

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