Equanimity sale proceeds can now be placed in MoF asset recovery account

Equanimity sale proceeds can now be placed in MoF asset recovery account

The Edge Markets - Malaysia·2019-11-22 14:31

KUALA LUMPUR (Nov 22): About US$124.5 million in proceeds from the sale of superyacht Equanimity — which was allegedly purchased with money stolen from scandal-ridden 1Malaysia Development Bhd (1MDB) —  will now be placed in the Ministry of Finance's asset recovery account.

This follows the High Court's Judicial Commissioner Khadijah Idris today giving an order for priorities and payment of the proceeds towards the specially set up fund, which will house funds channelled illegally out of 1MDB.

……

Read full article on The Edge Markets - Malaysia

Corruption SE Asia

Comments

Leave a comment in Nestia App