17 Apr '18, 11am

Indonesia court rules yacht seizure in 1MDB case invalid

Indonesia court rules yacht seizure in 1MDB case invalid

JAKARTA - An Indonesian court on Tuesday (April 17) ruled that the seizure of a luxury yacht linked to a US investigation into scandal-ridden state fund 1Malaysia Development Berhad (1MDB) was invalid and without legal basis. "We declare the confiscation by police as invalid and legally baseless," Justice Ratmoho told the hearing at the South Jakarta District Court. On Feb 28, Indonesian police in Bali confiscated the 92-metre, Cayman Islands-registered Equanimity yacht off Bali as part of a joint operation with the US Federal Bureau of Investigation. Mr Ratmoho said the seizure should have been carried out "under the reciprocal legal assistance framework as stipulated by the 2006 law, which gives the mandate to the law and human rights ministry,” and not the police. The US Department of Justice had earlier alleged that the Equanimity, valued at US$250 million (S$328 milli...

Full article: http://www.straitstimes.com/asia/se-asia/indonesia-court-...

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