91.5m superyacht detained in Indonesia handed over to Malaysian authorities

The seized 91.5 metre (300-foot) superyacht, Equanimity, has been transferred to Malaysia after being previously detained by Indonesian authorities, according to reports.

The superyacht, allegedly bought with funds embezzled from 1Malaysia Development Berhad (1MDB), is believed to belong to fugitive businessman Low Taek Jho.

Equanimity was handed over to Malaysian authorities at the Indonesian Island of Batam. Malaysian officials immediately boarded the vessel once it arrived at Port Klang on 7^th August 2018.

The yacht was previously detained by Indonesia in February following a request by the U.S. Department of Justice. The department believes that the funds used to purchase Equanimity were siphoned off from the Malaysian sovereign wealth fund 1MDB between 2009 and 2015.

As well as the Oceano-built yacht, it is thought that the remaining funds were used to buy the rights to several Hollywood movies, including The Wolf of Wall Street and Dumb and Dumber To.

Low Taek Jho, Equanimity’s alleged owner, has been previously identified as a key figure in the scandal.

Earlier this week, Malaysia’s finance minister, Lim Guan Eng, said the government intends to take an inventory of items on the yacht and open it for public viewing before auctioning it for the highest price. The Malaysian government apparently intends sell the estimated $250 million yacht to recover some of the funds lost in the scandal.

It comes after Malaysian prime minister, Mahathir Mohamad, replaced predecessor and fund founder Najib Razak in May 2018, who was also linked to the scandal, but denies any involvement.

In addition to the US, there are currently six other countries investigating irregularities related to the 1MDB fund, including Switzerland, Luxembourg and Singapore.

Launched in the Netherlands in 2014, Equanimity was the first superyacht to be built to the new PYC standard. She can accommodate up to 26 guests and 28 crewmembers. She has an Asian-themed interior, a swimming pool, movie theatre and helipad among other luxury amenities.