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KUALA LUMPUR (NEW STAR / ASIA NETWORK) – Malaysian authorities will launch a one-month auction on the luxury yacht Equanimity, owned by fugitive businessman Jho Low on Monday October 29, the public investment fund 1Malaysia Development Berhad (1MDB) lawyer said.
Ong Chee Kwan, 1MDB's attorney, confirmed the sale after meeting the High Court (Admiralty) Commissioner Khadijah Idris in a room on Friday, October 26.
"Those interested in bidding must pay US $ 1 million in deposits," he said.
Lawyers Jeremy Joseph and Alice Loke, senior federal lawyers, were also present.
The judgment came after the registered owner of the yacht did not appear in court to claim the vessel.
In addition to the 1MDB public investment fund and the government, the other two complainants are MDB Energy Holdings Limited and 1MDB Global Investment Limited, which are subsidiaries of 1MDB.
Equanimity, flag of the Cayman Islands, was given to Malaysia by Indonesian authorities in August after it was seized in Bali at the request of US authorities in a kleptocracy investigation that found billions of dollars collected on 1MDB.
The 91-meter yacht was reportedly bought by Low, also known as Low Taek Jho, with misappropriated funds of 1MDB, according to the lawsuits filed by the United States Department of Justice.
The ship has an interior clad in marble and gold leaf, a spa and sauna, a 20-meter pool, a movie theater, an elevator and a helipad, according to yachtcharterfleet.com, a website dedicated to luxury charters.
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