PRIME Minister Dr Mahathir Mohamad said the US Department of Justice (DoJ) found that the Equanimity was bought by Penang-born businessman Jho Low with money siphoned off 1Malaysia Development Berhad (1MDB).

“The DoJ investigated and they found that this yacht belongs to Jho Low, and that the money he paid for it was stolen money from 1MDB.

“They have the documents on this, so they have assured us that this is Jho Low’s boat, and they said if you want to keep it, we are entitled to it because this is ours, bought with stolen Malaysian money.

“And when we eventually sell this boat, we are entitled to the proceeds,” said Dr Mahathir after a tour of the Equanimity that that has been docked in Port Klang since Tuesday.

The Equanimity is one of the assets, including paintings, jewelleries and movie rights amounting to US$1.7 billion (RM6.9 billion) allegedly bought with misappropriated 1MDB funds that the US Department of Justice has sought to recover in civil forfeiture suits.

Low allegedly bought the super yacht for US$250 million (RM1 billion) in 2014 from Dutch maker Oceano with funds allegedly misappropriated from a 1MDB bond issuance in 2013 and a Deutsche Bank loan to 1MDB in 2014.

Indonesian authorities seized the Equanimity docked in Bali in February but had to release in April after Equanimity Cayman Ltd obtained a court ruling in Jakarta declaring the seizure illegal.

Indonesian police seized the Equanimity in July again after a legal assistance request from the US. Dr Mahathir visited Indonesian president Joko Widodo in June.

Dr Mahathir said the US and Indonesia cooperated with Malaysia to return the super yacht to the federal government.

He said the US will not be taking any legal action against Malaysia.

“The only people who want to take legal action will be Jho Low. For him to take legal action he can come to prove to us that it belongs to him. It is very costly, we want to know where he got the money. And when we trace the money, eventually we will find that the money was from 1MDB,” said Dr Mahathir.

Equanimity Cayman Ltd’s lawyers said Malaysia’s move to take possession of the yacht was illegal.

Dr Mahathir said Malaysia wants to sell the luxurious yacht soonest possible as its monthly maintenance cost RM2 million. – August 11, 2018.