International Business & Economy FBI seizes $250 MILLION megayacht linked to 1MDB

FBI seizes $250 MILLION megayacht linked to 1MDB

Author

Date

Category

- Advertisement -

Saying the 1MDB case in Singapore is ‘hearsay’, the netizens in Malaysia are waiting to hear from the authorities about the FBI’s seizure of a megayacht linked to the mega-scandal.

The yacht was seized off the coast of Bali, Indonesia, by the FBI as part of $540million in assets allegedly bought with money from Malaysian government fund.

The 300-foot vessel is owned by Malaysian financier Jho Low, accused of embezzling state funds.

The vessel has an interior clad in marble and gold leaf, a spa and sauna, a 66-foot swimming pool on deck, a movie theatre, a lift and a helipad, said the Daily Mail yesterday.

- Advertisement -

The US Justice Department says more than $4.5 billion was stolen from the fund, set up in 2009 by Malaysian Prime Minister Najib Razak.

Najib was embroiled in the scandal when it emerged that nearly $1 billion had passed through his personal bank accounts.

He and the fund deny any wrongdoing.

Follow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

How did Singapore grow?

Call it a series of coincidences but my maternal granduncle passed away. While the timing was not something he planned, his death took place a day or two after Singapore Press Holding’s (SPH) CEO, Mr Ng Yat Chung, gave his now...

Shanmugam challenges opposition to debate on CECA, leaders respond

Singapore— Law and Home Affairs Minister K Shanmugam ended a speech in  Parliament on Tuesday (May 11) by challenging Non-Constituency MP Leong Mun Wai to a debate on CECA, the India-Singapore Comprehensive Economic Cooperation Agreement.  Mr Leong, who is from the Progress...

K Shanmugam: If SG goes down racist route, eventually all Indians can be a target of hate

Singapore—In the wake of a hate crime last Friday (May 7) when a 55-year-old Singaporean-Indian woman was kicked in the chest and called racial slurs, racism and xenophobia were discussed in Parliament on Tuesday (May 11).  Minister for Law and Home Affairs...
Follow us on Social Media

Send in your scoops to news@theindependent.sg 

Theindependent