1MDB: Superyacht linked to financial scandal sold for $126m
1MDB: Superyacht linked to financial scandal sold for $126m
Malaysia's government has agreed to sell a seized superyacht allegedly bought with money stolen from the 1MDB state fund for $126m (£95.9m).
The sale of the yacht to casino firm Genting Malaysia marks the country's largest recovery yet of 1MDB cash.
Billions of dollars were allegedly embezzled from 1MDB, which was set up in 2009 to aid economic development.
It comes as Malaysia's ex-PM Najib Razak faces his first trial over his role in the sweeping financial scandal.
He denies any wrongdoing.
US authorities say money siphoned from 1MDB was used to buy lavish assets including a private jet, paintings, real estate -and the luxury yacht, Equanimity.
Businessman Low Taek Jho, a key figure in the scandal, allegedly purchased the superyacht which was confiscated by authorities in 2018.
Comments
Post a Comment