Malaysian financier Low Taek Jho will probably be ordered to turn over his $250mil (RM988mil) yacht to U.S. officials, who claim he bought it with money siphoned from the 1Malaysia Development Bhd sovereign wealth fund.
A federal judge in Los Angeles said Monday that she will issue an order shortly on the Justice Department’s request to get custody of the “Equanimity,” which is currently in Indonesia. U.S. District Judge Dale Fischer initially ruled in April that the ship could be sailed to the U.S. from Bali, but a court in Jakarta later found that the police hadn’t followed proper procedures and ordered the yacht returned.
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