A luxury yacht linked to allegations that US$4.5 billion was looted from Malaysia’s state investment fund 1MDB must be returned to its wealthy owner, an Indonesian court ruled on Tuesday, citing missteps by police in seizing the vessel.
The decision comes about six weeks after Indonesian authorities, acting on a request from the FBI, seized the Cayman Islands-registered Equanimity, reportedly worth some US$250 million, which was moored off the Indonesian tourist island of Bali. Its three…
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