Malaysia’s government says a luxury yacht allegedly bought with money stolen from a troubled state investment fund will be sold to casino operator Genting Berhad for $126 million, half its original price.
Attorney-General Tommy Thomas says the Admiralty Court on Wednesday approved the sale of the Equanimity, which has lavish amenities including a helicopter landing pad, plunge pool, gymnasium and a cinema.
Continue Reading Below
U.S. investigators say the yacht was bought with funds diverted from the 1MDB fund by Malaysian financier Jho Low, believed to be a key figure in the theft and laundering of $4.5 billion from 1MDB.
The 1MDB scandal led to ex-Prime Minister Najib Razak’s shocking electoral defeat last May and multiple criminal charges. His first corruption trial is due to begin later Wednesday.
