Malaysia will sell a superyacht allegedly bought with stolen funds from state fund 1MDB to casino operator Genting Malaysia Bhd for $126 million
Seized luxury yacht Equanimity, belonging to fugitive Malaysian financier Low Taek Jho, is brought to Boustead Cruise Terminal in Port Klang, Malaysia August 7, 2018.
The superyacht Equanimity is among assets allegedly bought by fugitive financier Low Taek Jho and his associates with money taken from the fund, US and Malaysian investigators have said. Malaysia had put up the luxury yacht for sale in October, setting a minimum price tag of $130 million, but had struggled to find a buyer at that price.
Thomas said the government negotiated directly with Genting Malaysia and as a result would save $4. 4 million in agent's commission.1MDB, founded by former prime minister Najib Razak, is being investigated by at least six countries for money laundering and corruption.
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