Earlier this month, the 91.5-meter Oceanco, Equanimity was seized by Indonesian authorities at the request of the US Department of Justice in a case that it has been pursuing since 2016. According to the DoJ, the yacht was purchased with funds siphoned from the Malaysian sovereign wealth fund, a statement that her presumed owner, Jho Low and the government of Malaysia are refuting.
Built in 2014 by Oceanco in the Netherlands, Equanimity, one of the 60 largest yachts in the world, became the first yacht to be built to the new PYC standard, allowing her to accommodate up to 26 guests in addition to a crew of 28. According to a complaint filed by the DoJ in June 2017, the US believes over $250 million of allegedly siphoned funds were used to build and maintain the 91-meter yacht from World View Ltd, a company based in the Cayman Islands.
The complaint goes on to refer to an exchange between a Hill Dickinson lawyer and a banker, referring to World View Ltd as a family trust of which only the Low family are beneficial owners of. Following the delivery of the yacht, just over €101 million were reportedly sent to the Dutch shipyard according to the DoJ.
Following her delivery, Equanimity went on to be presented at the Monaco Yacht Show in 2014, winning the title of best boat at the show that year. Amongst her amenities are an extensive spa area that takes up most of the lower deck with a steam room, beauty salon, sauna, experiential shower as well as a swimming pool. Other features include a helipad and spacious living rooms and suites.
The US Department of Justice's interest in the boat doesn't, however, stem from its many luxurious amenities. Indeed, the yacht is now caught up in an investigation into $4.5 billion that were allegedly misappropriated from 1MDB, Malaysia's sovereign wealth fund set up by its Prime Minister, Najib Razak.
"If you look at the documents, including the Department of Justice summons, it is only an accusation on who the owner is. There is no evidence linking 1MDB to the ship's purchase." said Datuk Seri Salleh Said Keruak, Malaysia's communication and multimedia minister on March 5th.
Amongst the individuals being investigated with regards to this case is Malaysian financier, Jho Low, the owner of the 91-meter yacht according to the United States Government. "Disappointing that, rather than reflecting on the deeply flawed and politically motivated allegations, the DOJ is continuing with its pattern of global over reach - all based on entirely unsupported claims of wrongdoing" a spokesperson for Low was quoted in Malaysian media last week according to Reuters.
Following a complaint issued by the US, Equanimity was eventually seized earlier this month near Bali by Indonesian authorities. Its AIS tracking system had been switched off back on January 1st, making the location of the yacht unclear until now. According to a statement released by the captain's lawyer, he had no idea who the owner of the yacht was. "As far as the captain is concerned, what he knows is that the yacht is owned by a company registered in the Cayman Islands."
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