Indonesia to hand over luxury yacht to US authorities amid 1MDB probe

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A seized a luxury yacht sought by the U.S. Department of Justice (DOJ) as part of a multi-billion dollar corruption investigation is seen off the shore of Banoa, on the resort island of Bali, Indonesia February 28, 2018 in this photo taken by Antara Foto. — Reuters photo

KUCHING: Indonesia is making preparations to hand over a luxury yacht seized in Bali last month to US authorities targeting assets allegedly bought with money siphoned off from a Malaysian state fund, Reuters reported a police official as saying today.

The Cayman Islands-flagged Equanimity was impounded by Indonesian authorities amid a multi-billion dollar corruption investigation launched by the US Department of Justice (DOJ) and tied to 1Malaysia Development Berhad (1MDB).

Daniel Silitonga, deputy director of economic and special crimes at Indonesia’s criminal investigation bureau said the Indonesian police and the US Federal Bureau of Investigation (FBI) were “preparing paperwork” for a hand over of the ship.

Silitonga reportedly said authorities had taken the vessel’s logbook but a search had not found any money on board.

Agung Setya, director of economic and special crimes at Indonesia’s criminal investigation bureau also said police have also questioned the captain and crew but had found no link to an investigation into money laundering.

1MDB is at the centre of money-laundering probes in at least six countries, including Singapore, US and Switzerland.