This week, the 1mdb state Fund in Malaysia, the Equanimity superyacht, which is estimated at $ 250 million, was put up for auction in the center of the corruption scandal.
The yacht was among the assets associated with funds allegedly stolen from the state investment Fund 1Malaysia Development Berhad, created by former Prime Minister Najib Razak.
The auction for the sale of the yacht, which will last until November 28, is being held with the mediation of the London-based Burgess Yachts. The Supreme court of Malaya appointed Burgess responsible for the deal, CNBC reported.
“The trial process will follow strict rules, but mostly it will be the submission of closed applications by qualified potential buyers, which will be opened by the Sheriff of the Supreme court of Malaysia in November / December 2018,” the British company said.
“We are advised that under Admiralty law, the judicial sale will provide the buyer with an internationally recognized title of ownership without mortgage, attachment and all encumbrances.”
Equanimity is a 300-foot yacht with the capacity to accommodate up to 22 guests and a crew of 31 people. It features an “impressive beach club” as well as a Wellness centre, swimming pool and helipad.
On Friday, 1mdb lawyer Ong Chi Kwan confirmed that the yacht will be put up for sale. “Those who will be eligible to bid must make a Deposit of $ 1 million as we want to ensure that only serious buyers come forward,” he said. His statement came after the Malaysian Supreme court ruled that the government and 1MDB are the owners of Equanimity and are therefore free to sell it.
Former Prime Minister Najib is currently facing more than 30 criminal charges in connection with the theft of 1MDB, including money laundering and breach of trust. The former head of the Treasury, Irvan Siregar Abdullah obvineniya in violation of a criminal prosecution. Both pleaded not guilty to all charges.
The us authorities claim that $ 4.5 billion was laundered from 1MDB funds, and about $ 700 million was transferred to Najib’s personal Bank accounts.
