1MDB legal team to seek declaration of ownership of Equanimity

Sources in the Malaysian Anti-Corruption Commission (MACC) confirmed that the former prime minister will have a new set of charges against him.

"The Attorney-General Chamber (AGC) has invoked the Admiralty jurisdiction of the High Court of Malaya at Kuala Lumpur against the yacht.

Mahathir said investigations by the United States Department of Justice (DoJ) had shown that the yacht was purchased with money stolen from 1MBD.

They are linked to SRC International, an energy company that was originally a subsidiary of 1MDB, it said. Following the handover of the yacht to Malaysia, the Justice Department has sought to suspend legal proceedings to determine what Malaysia plans to do with the vessel.

Low, who has so far evaded investigators, issued a statement through his USA attorney on Sunday, protesting the handover of the yacht.

The Cayman Islands-registered Equanimity, believed to be worth some US$250 million, was seized in February off Bali.

Indonesia handed over to Malaysia on Monday a $250 million luxury yacht, impounded earlier this year as part of an global hunt for assets purchased with billions of dollars allegedly siphoned off from state fund 1Malaysia Development Bhd.

They filed a petition challenging what it said was the "unlawful and extrajudicial" seizure of the yacht, questioning the lawfulness of a warrant issued by the Indonesian police to turnover the vessel to Malaysia.

It's rich that Low's legal representation calls out the "illegitimate" seizure of the yacht but conveniently overlooks the illegitimate plundering of nearly US$700 million from the nation's wealth fund. "Accordingly, the Equanimity is properly seized under the laws of Malaysia", Thomas said in a statement this afternoon.

The A-G also expressed his gratitude to the United States and Indonesia for their cooperation.

The former prime minister has pleaded not guilty to the charges, and is out on bail.

Former prime minister Datuk Seri Najib Razak said today that the cancellation of the Saudi Arabia-backed King Salman Centre for International Peace (KSCIP) by Putrajaya would offend the kingdom.

Malaysia is trying to recover up to $1.7 billion in assets, including the yacht, that the DoJ has alleged were bought with stolen 1MDB funds.

"We don't know. It can be investigated, but what is important is repaying the debt with IPIC".

Vanessa Coleman