Indonesia has seized a luxury yacht on the tourist island of Bali that is wanted by US authorities as part of a probe into alleged multi-billion-dollar corruption at Malaysian state investment fund 1MBD. Metro TV today showed local police and what it identified as FBI officers boarding the vessel, Equanimity, moored off Bali. In June, the US Justice Department filed a civil case seeking recovery of USD 540 million in assets that it says were stolen from 1MDB, a fund intended to promote economic development. Overall, the Justice Department alleges that more than USD 4.5 billion was stolen from the fund. Malaysian Prime Minister Najib Razak was embroiled in the scandal when it emerged that nearly USD 1 billion had passed through his personal bank accounts. He denies any wrongdoing.
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