As part of growing 1MDB investigations involving the beleaguered Jho Low, the United States’ Department of Justice recently seized $540m worth of assets acquired using misappropriated 1MDB funds, among them, the 91.5 metre Oceanco Equanimity yacht.
1MDB, the Malaysian Sovereign wealth fund is riddled with scandalous allegations of financial mismanagement and criminal misappropriation involving codename “Malaysian Official 1” – widely reported to be embattled Malaysian Premier Najib Razak and model chasing Malaysian business Jho Low. The seizure of the 91.5 metre Oceanco Equanimity yacht among the recovery of other assets adds $540m to the total recovered by the US Department of Justice to $1.7 billion, close of half of the total $4.5 billion amount allegedly stolen from 1MDB or 1Malaysia Development Berhad fund.
US Department of Justice Seizes 91.5m Oceanco Equanimity yacht
The beneficiary of the alleged criminal misappropriation is Jho Low, of which the US government is seeking over $400 million. A close associate of Najib Razak, the Equanimity was delivered by Oceanco to Low in June 2014.
According to US Department of Justice statements, over $250 million was allegedly moved from 1MDB and used to acquire and maintain the 91.5 metre Oceanco Equanimity yacht whose paperwork showed a suspected shell company – World View Ltd, a company in the Cayman Islands.
The Dutch-based Oceanco delivered the 91.5 metre Oceanco Equanimity yacht in 2014. It is considered among the best in class for its size, custom built in 2014 by Oceanco in Alblasserdam ( Netherlands ) with yacht’s interior designed by Winch Design.
91.5 metre Oceanco Equanimity yacht can accommodate 26 guests in 9 staterooms and has a crew of 28. Features include a full-suite spa and beach club on the lower deck, a beauty salon, a gym, a sauna, a Turkish bath and a large pool. And additional transport facilities by way of a helipad to her aft. The interior has some oriental inspired themes, using materials as wenge, bamboo and gold lead. She is currently – 2017 – the 54th largest yacht in the world.