Malaysia to sell $250M 1MDB superyacht
Kuala Lumpur, Malaysia (CNN)Malaysia will sell a luxury superyacht belonging to the alleged mastermind of the 1MDB financial scandal for about half its estimated value, officials said Wednesday.
Prosecutors claim the 91.5-meter (300 foot) Equanimity, was bought by Malaysian financier Jho Low with a portion of the nearly $5 billion allegedly stolen from 1MDB, the country’s sovereign wealth fund set up by former Prime Minister Najib Razak.
News of the sale comes as Najib is due to appear in court for the much delayed start of his trial over alleged corruption and abuses of power in connection with the scandal. Both he and Jho Low — who remains at large — deny any wrongdoing.
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