Friday April 19, 2024

Luxury jet linked to graft scandal to return to Malaysia: PM

August 14, 2018

PUTRAJAYA, Malaysia: A $35 million private jet owned by a playboy financier at the centre of a Malaysian corruption mega-scandal will be returned to the country as soon as possible, the prime minister said Monday. The plane, thought to currently be in Singapore, is the latest asset Malaysia is seeking to claw back that was allegedly bought by businessman Low Taek Jho with money looted from sovereign wealth fund 1MDB. Last week a $250 million super-yacht allegedly owned by the financier, an adviser to 1MDB often referred to as Jho Low, was returned to Malaysia after being impounded by authorities in Indonesia. Allegations that huge sums were plundered from 1MDB contributed to the shock election defeat in May of former premier Najib Razak, who set up and oversaw the fund.