Crime
Malaysia Starts Auction of Jho Low's $250 Million Luxury Yacht
- Government took possession of the 300-foot vessel in August
- Low has called Malaysian move to get the vessel ‘illegitimate’
Malaysia started an auction of financier Low Taek Jho’s $250 million luxury yacht that investigators allege was bought with funds embezzled from investment company 1Malaysia Development Bhd.
Bidding on “Equanimity” starts Monday and will end on Nov. 28, according to Ong Chee Kwan from law firm Christopher & Lee Ong, who is representing the government and 1MDB in the sale of the 300-foot vessel. He couldn’t provide an estimate on the amount Malaysia expects to raise from it.