JAKARTA, Indonesia: Indonesia is returning a luxury yacht allegedly bought with funds stolen from a Malaysian state investment company after a monthslong legal battle, a police official said Sunday,
The $250 million Equanimity is on its way to a border location where it will be transferred to Malaysia, said Daniel Silitonga, deputy director of economic crimes at Indonesia’s national police. He said the yacht is currently near Batam island close to Singapore, but declined to say when or where the transfer will happen.
Indonesian police working with the FBI seized the yacht off Bali in February but faced a legal challenge from a Cayman Islands company registered as its owner.
The US Justice Department, one of several foreign agencies investigating the alleged multibillion dollar looting of the 1MDB state fund by associates of former Malaysian Prime Minister Najib Razak, had listed the yacht among the assets it could seize and sell to recover stolen funds.
“We will hand over the yacht soon,” Silitonga said. “Special arrangements have been made by the two countries based on good relations.”
At the time of the seizure, Malaysia was not cooperating with international investigations into 1MDB. But the massive corruption scandal in May led to the electoral defeat of Najib, who is now facing charges.
Malaysian and international authorities want to question Malaysian financier Jho Low, who the Justice Department alleges was a key figure in the theft and international laundering of $4.5 billion from 1MDB.
Low, who has so far evaded investigators, issued a statement through his US attorney on Sunday, protesting the handover of the yacht.
“Actions like this make it increasingly clear that there is no jurisdiction where the issues in this case can be subject to a fair hearing, thanks to a global media circus fueled by politically motivated parties whose aim is to convict Mr. Low in the public arena,” the statement said.
The Equanimity’s lavish amenities include a helicopter landing pad, plunge pool, gymnasium and a cinema.
It was built in 2014 by the Dutch yacht manufacturer Oceano, which received detailed instructions from Low about its outfitting, according to the Justice Department’s asset recovery case.
Indonesia returning yacht at center of Malaysia graft probe
Indonesia returning yacht at center of Malaysia graft probe
- The $250 million Equanimity is on its way to a border location where it will be transferred to Malaysia
- Indonesian police working with the FBI seized the yacht off Bali in February
Bangladesh halts controversial relocation of Rohingya refugees to remote island
- Administration of ousted PM Sheikh Hasina spent about $350m on the project
- Rohingya refuse to move to island and 10,000 have fled, top refugee official says
DHAKA: When Bangladesh launched a multi-million-dollar project to relocate Rohingya refugees to a remote island, it promised a better life. Five years on, the controversial plan has stalled, as authorities find it is unsustainable and refugees flee back to overcrowded mainland camps.
The Bhasan Char island emerged naturally from river sediments some 20 years ago. It lies in the Bay of Bengal, over 60 km from Bangladesh’s mainland.
Never inhabited, the 40 sq. km area was developed to accommodate 100,000 Rohingya refugees from the cramped camps of the coastal Cox’s Bazar district.
Relocation to the island started in early December 2020, despite protests from the UN and humanitarian organizations, which warned that it was vulnerable to cyclones and flooding, and that its isolation restricted access to emergency services.
Over 1,600 people were then moved to Bhasan Char by the Bangladesh Navy, followed by another 1,800 the same month. During 25 such transfers, more than 38,000 refugees were resettled on the island by October 2024.
The relocation project was spearheaded by the government of former Prime Minister Sheikh Hasina, who was ousted last year. The new administration has since suspended it indefinitely.
“The Bangladesh government will not conduct any further relocation of the Rohingya to Bhasan Char island. The main reason is that the country’s present government considers the project not viable,” Mizanur Rahman, refugee relief and repatriation commissioner in Cox’s Bazar, told Arab News on Sunday.
The government’s decision was prompted by data from UN agencies, which showed that operations on Bhasan Char involved 30 percent higher costs compared with the mainland camps in Cox’s Bazar, Rahman said.
“On the other hand, the Rohingya are not voluntarily coming forward for relocation to the island. Many of those previously relocated have fled ... Around 29,000 are currently living on the island, while about 10,000 have returned to Cox’s Bazar on their own.”
A mostly Muslim ethnic minority, the Rohingya have lived for centuries in Myanmar’s western Rakhine state but were stripped of their citizenship in the 1980s and have faced systemic persecution ever since.
In 2017 alone, some 750,000 of them crossed to neighboring Bangladesh, fleeing a deadly crackdown by Myanmar’s military. Today, about 1.3 million of them shelter in 33 camps in the coastal Cox’s Bazar district, making it the world’s largest refugee settlement.
Bhasan Char, where the Bangladeshi government spent an estimated $350 million to construct concrete residential buildings, cyclone shelters, roads, freshwater systems, and other infrastructure, offered better living conditions than the squalid camps.
But there was no regular transport service to the island, its inhabitants were not allowed to travel freely, and livelihood opportunities were few and dependent on aid coming from the mainland.
Rahman said: “Considering all aspects, we can say that Rohingya relocation to Bhasan Char is currently halted. Following the fall of Sheikh Hasina’s regime, only one batch of Rohingya was relocated to the island.
“The relocation was conducted with government funding, but the government is no longer allowing any funds for this purpose.”
“The Bangladeshi government has spent around $350 million on it from its own funds ... It seems the project has not turned out to be successful.”
