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Owners name: Jho Low - Jho Low Net Worth: US$ 1 billion - Owners company: Jynwel Capital - Owners Country: Malaysia -
The US filed criminal charges against Jho Low in a in a money laundering investigation. The yacht was seized and will be auctioned.
Luxury Yacht Equanimity
The yacht Equanimity is built by Oceanco and was delivered to her owner in June 2014. The yacht has a length of 91.5 meters and is built of steel with an aluminum superstructure.
Yacht Equanimity Interior
Her interior design is by Andrew Winch, while Azure Naval Architects was involved in the engineering. The yacht can accommodate 26 guests in 9 staterooms and has a crew of 28.
Equanimity’s features include a spa and beach club, a beauty salon, a gym, a sauna, a Turkish bath and a large pool. The interior has some oriental inspired themes, using materials as wenge, bamboo and gold lead.
60th Largest Yacht in the World
She is currently - 2018 - the 60th largest yacht in the world. The meaning of the word Equanimity can be described as ‘a mental calmness, even in a difficult situation’.
All photos on this page by Dutch Mega Yachts.
An Owner with Chinese Roots
SuperYachtFan received two different messages: one stating that Do Won Chang is the owner of the yacht, and another stating that Malaysian billionaire Jho Low is the owner of the yacht.
Several sources in the yachting industry do mention that the owner of Equanimity has Chinese roots. And since Mr. Jho Low’s grandfather was born in China, this makes him a possible owner of the yacht.
In June 2017 this info was confirmed in a USA criminal court case.
Charter Yacht Equanimity
The yacht Equanimity is not available for charter.
Seized by Indonesian Government
In February 2018 Equanimity was seized by the Indonesian government, as part of a multi-billion dollar corruption investigation, linked to the Malaysian state fund 1MDB. The yacht was in Benoa Bay, near the Indonesian island of #Bali.
Handover to Malaysia
We were told that Equanimity left Bali (after many months being moored outside the main harbour) and was on route to Batam.
Other media reported that Indonesia agreed to hand over the yacht to Malaysia. In an emailed statement, a spokesman for Low’s legal team said the handing over of Equanimity to Malaysia was illegal and that it was politically motivated.
Burgess Yachts Appointed as Sales Agent
The High Court of Malaya appointed Burgess Yachts as Central Agents for the sale of the yacht Equanimity.
The court in Malaysia ruled last week that the sale should take place to recoup funds misappropriated from a state development fund.
The High Court also chose an appraiser to determine the yacht’s value. The sale process will be by sealed bids, following steps outlined by the court.
Malaysian born billionaire Jho Low is the owner of the yacht Equanimity. His ownership of the yacht was confirmed in a US Court case.
Who is Jho Low?
Jho Low is the co-founder and Chief Executive Officer of Jynwel Capital Limited, an international investment and advisory firm based in Hong Kong.
Low is the grandson of Chinese-born mining and liquor entrepreneur Meng Tak. Tak built his fortune in Thailand in the 1960s and 1970s through iron-ore mining and liquor distilleries. He invested his profits in real estate.
Strategic Resources Global
Low’s father Tan Sri Larry Low Hock Peng (known as Larry Low) continued to invest the family's fortune in real estate and in stock markets.
The US authorities filed a criminal case again mr Jho Low, claiming that he transferred US$ 1 billion in funds from the Malaysian authorities to a private account.
The Complaint alleges that 1MDB – a strategic investment and development company wholly-owned by the government of Malaysia - formed a joint venture with a Saudi oilextraction company call PetroSaudi International (“PetroSaudi”), and that 1MDB initiated multiple funds transfers to the joint venture in relation to energy investments in Turkmenistan and Argentina.
The Complaint alleges that the funds for this investment were improperly diverted to a bank account in Switzerland, held in the name of Good Star Limited, which was beneficially owned not by PetroSaudi or the joint venture, but by LOW Taek Jho, a/k/a Jho Low (“LOW”).
Read the full text below.
The complaint alledges that Jho Low used the US$ 1 billion for his private benefit. Some of the items he purchased:
- The yacht Equanimity for US$ 250 million
- A Bombardier Global 5000 private jet (registration N689WM) for US$ 35 million
He bought several pieces of art:
- a Vincent van Gogh painting for US$ 5 million
- two paintings by Monet: Saint-Georges Majeur for US$ 35 million and Nympheas for US$ 58 million
- two paintings by Pablo Picasso: Tete de femme” US$ 40 million, and Nature Morte au Crane de Taureau for US$ 3 million . He gifted this painting to Leonardo Dicaprio for his birthday.
Also he bought real estate:
- A penthouse in the Walker Tower in New York for US$ 50 million
- The Laurel Mansion in Beverly Hills for US$ 31 million
- The Qentas Townhouse in London for US$ 40 million
- A penthouse in Stratton Street, London for US$ 60 million
He also bought a US$ 27 million 22-carat diamond pink necklace and he chartered the 147 meter yacht Topaz for one week for US$ 3.5 million.
In June 2017 the United States was starting civil forfeiture of all these assets. In February 2018 the yacht Equanimity was seized by the Indonesian government on behalf of Malaysia and the USA.
Message to other Media
Please mention and link to this page, when using this information. Thanks!
Motor yacht Equanimity built for Malaysian billionaire Jho Low.
Do Won Chang
SuperYachtFan received a message, stating that Do Won Chang is the owner of the yacht Equanimity. But this info is incorrect.
Do Wong Chang is the founder of the female clothing retailer Forever 21. Do Won Chang was born in South Korea and moved to the US in 1981 at the age of 26. He started working at a gas station, cleaning cars. He found out that clients with nice cars, all worked in the clothing business. So three years later in 1984, he opened a clothing store in Los Angeles named Fashion 21. The store was very successful and Chang soon opened more stores.
One of the US largest retailers
Nowadays the company - renamed Forever 21 - has almost 500 stores and is the US’ 5th largest retailer. The original LA store is still open and still named Fashion 21. Forbes estimates the net worth of Do Won Chang at US$ 5.4 billion.
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Text of the US Government Case Against Jho Low
UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF CALIFORNIA UNITED STATES OF AMERICA, Plaintiff, v. CERTAIN RIGHTS TO AND INTERESTS IN THE VICEROY HOTEL GROUP, Defendant. No. CV 17-4438 VERIFIED COMPLAINT FOR FORFEITURE IN REM [18 U.S.C. § 981(a)(1)(A) and (C)] [F.B.I.]
The United States of America brings this complaint against the above-captioned asset and alleges as follows: PERSONS AND ENTITIES 1. The plaintiff is the United States of America. 2. The defendant in this action is Certain Rights to and Interests in the Viceroy Hotel Group, (hereinafter, the “DEFENDANT ASSET”), more particularly described in Attachment A. 3. The persons and entities whose interests may be affected by this action are Low Taek Jho; Low Taek Szen; JW Hospitality (VHG Intl) Ltd.; FFP (Cayman) Ltd.; Mubadala Development Company PJSC; Viceroy Hotel Group; and Jynwel Capital Ltd. 4. Contemporaneously with the filing of this complaint, plaintiff is filing related actions seeking the civil forfeiture of the following assets (collectively, the “NEW SUBJECT ASSETS”): a. THE EQUANIMITY: All right and title to the yacht M/Y Equanimity, including all appurtenances, improvements, and attachments thereon, and all leases, rents, and profits derived therefrom. b. PALANTIR STOCK: All right and interest in 2,500,000 shares of Series D Preferred Stock in Palantir Technologies held by Tarek OBAID (“PALANTIR STOCK”). c. ELECTRUM ASSETS: All right and interest in the Electrum Group, including (i) Global Holdings, L.P. (“Electrum Global”); (ii) TEG Global GP Ltd.; and (iii) TEG Services Holding Inc. (“Electrum Services”) (collectively “Electrum”), owned, held or acquired, directly or indirectly, by JW Aurum (Cayman) Gp Ltd. (“JW Aurum”), including any right to collect and receive any profits and proceeds therefrom, and any interest derived from the proceeds invested in the Electrum Group by JW Aurum (hereinafter, “ELECTRUM ASSETS”). d. “DUMB AND DUMBER TO” RIGHTS: All rights to and interests in the motion picture “Dumb and Dumber To” belonging to Red Granite 2 Pictures, a film production company located in Los Angeles, California 90069, including copyright and intellectual property rights, as well as the right to collect and receive any profits, royalties, and proceeds of distribution owned by or owed to Red Granite Pictures or its affiliates and/or assigns in connection with its role in producing “Dumb and Dumber To” (hereinafter, the “DUMB AND DUMBER TO RIGHTS”); e. “DADDY’S HOME” RIGHTS: All rights to and interests in the motion picture “Daddy’s Home” belonging to Red Granite Pictures, a film production company located in Los Angeles, California 90069, including copyright and intellectual property rights, as well as the right to collect and receive any profits, royalties, and proceeds of distribution owned by or owed to Red Granite Pictures or its affiliates and/or assigns in connection with its role in producing “Daddy’s Home” (hereinafter, the “DADDY’S HOME RIGHTS”); f. METROPOLIS POSTER: One framed, 3-sheet color lithograph poster created by the German artist Heinz Schulz-Neudamm for the 1927 silent film “Metropolis.” g. ONE MADISON PARK CONDOMINIUM: All right and title to the real property located in New York, New York 1 owned by Cricklewood One Madison LLC (“ONE MADISON PARK CONDOMINIUM”), including all appurtenances, improvements, and attachments thereon, as well as all leases, rents, and profits derived therefrom. h. FLYWHEEL SHARES: All right and interest in the shares of Flywheel common stock held or acquired by FW Sports Investments LLC. i. 11.72-CARAT HEART-SHAPED DIAMOND: One 11.72-carat heart-shaped diamond with GIA number 2155273833. j. 8.88-CARAT DIAMOND PENDANT: One 8.88-carat fancy intense pink diamond pendant surrounded by 11-carat fancy intense pink diamonds. 1 Pursuant to L.R. 5.2-1, residential addresses are listed by the city and state only. 3k. MATCHING DIAMOND JEWELRY SET: One 18-carat white gold diamond jewelry set, including diamond necklace, diamond earring, diamond bracelet, and diamond ring. l. 11-CARAT DIAMOND EARRINGS: One pair of 18K white gold diamond earrings consisting a 5.55-carat diamond with GIA number 2165455706 and a 5.49-carat diamond with GIA number 2165635932 m. MATCHING DIAMOND RING AND EARRINGS: One pair of diamond earrings and matching diamond ring, consisting a 7.53-carat flawless type 2A diamond with GIA number 2145864026, a 3.05-carat flawless type 2A diamond with GIA number 2136117071, and a 3.08-carat flawless type 2A diamond with GIA number 2145977021. n. PICASSO PAINTING: One painting entitled “Nature Morte au Crane de Taureau” by Pablo Picasso. o. BASQUIAT COLLAGE: One collage entitled “Redman One” by Jean-Michel Basquiat. p. ARBUS PHOTOGRAPH: One photograph entitled “Boy with the Toy Hand Grenade” by Diane Arbus. 5. Plaintiff has previously filed the following complaints, seeking civil forfeiture of the following assets (referred collectively, together with the NEW SUBJECT ASSETS, as the “SUBJECT ASSETS”): a. Case number CV 16-5362 DSF (PLAx), United States v. The Wolf of Wall Street Motion Picture, Including any Rights to Profits, Royalties and Distribution Proceeds owed to Red Granite Pictures, Inc. or its Affiliates and/or Assigns (“THE WOLF OF WALL STREET”). b. Case number CV 16-5368 DSF (PLAx), United States v. The Real Property Known as The Viceroy L’Ermitage Beverly Hills (“the L’ERMITAGE PROPERTY”). 4 c. Case number CV 16-5369 DSF (PLAx) United States v. All Business Assets of The Viceroy L’Ermitage Beverly Hills, Including All Chattels and Intangible Assets, Inventory, Equipment, and All Leases, Rents and Profits Derived Therefrom (“THE L’ERMITAGE BUSINESS ASSETS”). d. Case number CV 16-5377 DSF (PLAx) United States v. Real Property located in Beverly Hills, California (“HILLCREST PROPERTY 1”). e. Case number CV 16-5371 DSF (PLAx) United States v. Real Property Located in New York, New York (“PARK LAUREL CONDOMINIUM”). f. Case number CV 16-5367 DSF (PLAx) United States v. One Bombardier Global 5000 Jet Aircraft, Bearing Manufacturer’s Serial Number 9265 and Registration Number N689WM, its Tools and Appurtenances, and Aircraft Logbooks (“BOMBARDIER JET”). g. Case number CV 16-5374 DSF (PLAx) United States v. Real Property Located in New York, New York (“TIME WARNER PENTHOUSE”). h. Case number CV 16-5378 DSF (PLAx) United States v. Real Property located in Los Angeles, California (“ORIOLE MANSION”). i. Case number CV 16-5375 DSF (PLAx) United States v. Real Property Located in New York, New York (“GREENE CONDOMINIUM”). j. Case number CV 16-5364 DSF (PLAx) United States v. Any Rights to Profits, Royalties and Distribution Proceeds Owned by or Owed to JW Nile (BVI) Ltd., JCL Media (EMI Publishing Ltd), and/or Jynwel Capital Ltd, Relating to EMI Music Publishing Group North America Holdings, Inc., and D.H. Publishing L.P., Inc. and D.H. Publishing L.P. (“EMI ASSETS”). k. Case number CV 16-5370 DSF (PLAx) United States v. All Right to and Interest in Symphony CP (Park Lane) LLC, Held or Acquired, Directly or Indirectly, by Symphony CP Investments LLC and/or Symphony CP Investments Holdings LLC, Including Any Interest Held or Secured by the Real Property and Appurtenances Located at 36 Central Park South, New York, New York, Known as The 5 Park Lane Hotel, Any Right to Collect and Receive Any Profits and Proceeds Therefrom, and Any Interest Derived From the Proceeds Invested in The Symphony CP (Park Lane) LLC by Symphony CP Investments LLC and Symphony CP (Park Lane) LLC (“SYMPHONY CP (PARK LANE) LLC ASSETS”). l. Case number CV 16-5376 DSF (PLAx) United States v. United States v. Real Property Located in New York, New York (“WALKER TOWER PENTHOUSE”). m. Case number CV 16-5379 DSF (PLAx) United States v. Real Property located in Beverly Hills, California (“LAUREL BEVERLY HILLS MANSION”). n. Case number CV 16-5366 DSF (PLAx) United States v. one pen and ink drawing by Vincent Van Gogh titled “La maison de Vincent a Arles” (“VAN GOGH ARTWORK”). o. Case number CV 16-5366 DSF (PLAx) United States v. One painting by Claude Monet titled “Saint-Georges Majeur” (“SAINT GEORGES PAINTING”). p. Case number CV 16-5366 DSF (PLAx) United States v. €25,227,025.83 Euros held in an escrow account at UBS, S.A. in Switzerland constituting the proceeds of the sale of a painting by Claude Monet titled “Nympheas” (“PETITE NYPMHEAS PROCEEDS”). q. Case number CV 16-5380 DSF (PLAx) United States v Real Property in London, United Kingdom, owned by Qentas Holdings (“THE QENTAS TOWNHOUSE”). r. Case number CV 17-4240 DSF (PLAx) United States v. Real Property in London, United Kingdom owned by Stratton Street (London) Ltd. (“THE STRATTON PENTHOUSE”). s. Case number CV 17-4242 DSF (PLAx) United States v. Real Property in London, United Kingdom owned by Seven Stratton Street (London) Ltd. (“STRATTON FLAT”). 6 t. Case number CV 17-4244 DSF (PLAx) United States v. Real Property in London, United Kingdom owned by Eight Nine Stratton Street (London) Ltd. (“STRATTON OFFICE BUILDING”). NATURE OF THE ACTION 6. This is a civil action in rem to forfeit assets involved in and traceable to an international conspiracy to launder money misappropriated from 1Malaysia Development Berhad (“1MDB”), a strategic investment and development company wholly-owned by the government of Malaysia.2 The United States seeks forfeiture of property located in the United States and abroad, including in the United Kingdom and Switzerland, pursuant to 18 U.S.C. § 981(a)(1)(C), on the ground that it was derived from violations of U.S. law, and pursuant to 18 U.S.C. § 981(a)(1)(A) on the ground that it is property involved in one or more money laundering offenses in violation of 18 U.S.C. §§ 1956 and/or 1957. 7. 1MDB was ostensibly created to pursue investment and development projects for the economic benefit of Malaysia and its people, primarily relying on the issuance of various debt securities to fund these projects. However, over the course of an approximately five-year period, between approximately 2009 and at least 2014, multiple individuals, including public officials and their associates, conspired to fraudulently divert billions of dollars from 1MDB through various means, including by defrauding foreign banks and by sending foreign wire communications in furtherance of the scheme, and thereafter, to launder the proceeds of that criminal conduct, including in and through U.S. financial institutions. The funds diverted from 1MDB were used for the personal benefit of the co-conspirators and their relatives and associates, including to purchase luxury real estate in the United States and overseas, pay gambling expenses at Las Vegas casinos, acquire more than $200 million in artwork, purchase lavish gifts for family members and associates, invest in a major New York real estate development 2 Malaysia is a sovereign country located in Southeast Asia snd fund the production of major Hollywood films. 1MDB maintained no interest in these assets and saw no returns on these investments.
BACKGROUND: RELEVANT INDIVIDUALS AND ENTITIES 19. 1Malaysia Development Berhad (“1MDB”) is a strategic investment and development company wholly-owned by the Malaysian government, through the Malaysian Ministry of Finance. It was formed in 2009 when the Malaysian government took control of a municipal entity called Terengganu Investment Authority (“TIA”). 1MDB’s governance structure has been comprised of a senior leadership team, a Board of Directors (“1MDB Board of Directors” or “1MDB Board”), and a Board of Advisors. Unless otherwise specified, references to 1MDB may include any of its wholly-owned subsidiaries. 20. PetroSaudi International Ltd. (“PetroSaudi” or “PSI”) is a private Saudi Arabia-based oil services company incorporated in Saudi Arabia, which maintains offices in the United Kingdom. 21. 1MDB PetroSaudi, Ltd. was a purported joint venture between 1MDB and PetroSaudi formed in or around September 2009 for the stated purpose of exploiting certain energy concessions PetroSaudi purportedly owned in Turkmenistan and Argentina. 22. International Petroleum Investment Company (“IPIC”) is an investment entity wholly-owned by the Abu Dhabi government. Its management is comprised of a Chairman, Deputy Chairman, Board of Directors, and Managing Director. 23. Aabar Investments PJS (“Aabar”) is a public joint stock company incorporated under the laws of Abu Dhabi and a subsidiary of IPIC. 24. Aabar Investments PJS Ltd. is the name of at least two different entities created to mimic the IPIC subsidiary Aabar Investments PJS: (a) one incorporated in the British Virgin Islands in March 2012 by QUBAISI and HUSSEINY (“Aabar-BVI”), and (b) one incorporated in the Seychelles5 in May 2014 by HUSSEINY (“AabarSeychelles”). Aabar-BVI maintained a bank account at BSI Bank in Switzerland, and Aabar-Seychelles maintained a bank account at UBS AG in Singapore. IPIC and Aabar recently clarified that neither entity is their affiliate. 25. Abu Dhabi Malaysia Investment Company (“ADMIC”) is a purported joint venture between 1MDB and Aabar that was created in or around March 2013 for the stated purpose of promoting the growth and development of Malaysia and Abu Dhabi. It was never capitalized. 26. LOW Taek Jho, a/k/a/ Jho Low (“LOW”) is a Malaysian national who advised on the creation of TIA, 1MDB’s predecessor. LOW has never held a formal position at 1MDB, and he has publicly denied any involvement with 1MDB after its inception. LOW nevertheless exercised significant control over 1MDB during the time period relevant to this Complaint. 27. 1MDB OFFICER 1 is a Malaysian national who served as the Executive Director of 1MDB from the time of its creation until approximately March 2011. During this time, 1MDB OFFICER 1 was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 28. 1MDB OFFICER 2 is a Malaysian national who served as 1MDB’s Chief Executive Officer (“CEO”) between at least 2009 and 2013. During this time, 1MDB OFFICER 2 was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 5 Seychelles is a sovereign country located in the Indian Ocean off of East Africa. 12 29. “Jasmine” LOO Ai Swan (“LOO”) is Malaysian national who served as 1MDB’s General Counsel and Executive Director of Group Strategy during, at a minimum, 2012 and 2013. LOO was a main point of contact between 1MDB and Goldman in connection with the three Goldman-underwritten bond offerings in 2012 and 2013. During this time, LOO was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 30. 1MDB OFFICER 4 is a Malaysian national who served as the Executive Director of Finance at 1MDB from, at a minimum, 2012 to 2015. He worked on the Goldman bond deals and served as a main point of contact on two loans that Deutsche Bank arranged for 1MDB in 2014. During this time, 1MDB OFFICER 4 was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 31. 1MDB-SRC OFFICER, a Malaysian national, was the Chief Executive Officer and Director of SRC International Sdn. Bhd. (“SRC International”) from late 2011 through 2013, at a minimum. SRC International was a one-time subsidiary of 1MDB that was transferred to direct ownership by the Malaysian Ministry of Finance in 2012. In 2011, prior to assuming his role at SRC International, the 1MDB-SRC OFFICER was the Chief Investment Officer of 1MDB. During these time periods, the 1MDB-SRC OFFICER was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 32. MALAYSIAN OFFICIAL 1 is a high-ranking official in the Malaysian government who also held a position of authority with 1MDB. During all times relevant to the Complaint, MALAYSIAN OFFICIAL 1 was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public servant” as that term is used in Section 21 of the Malaysian Penal Code. 13
33. Riza Shahriz Bin Abdul AZIZ (“AZIZ”), a Malaysian national, is a relative of MALAYSIAN OFFICIAL 1 and a friend of LOW. He co-founded Red Granite Pictures, a Hollywood movie production and distribution studio, in 2010. 34. “Eric” TAN Kim Loong (“TAN”) is a Malaysian national and an associate of LOW. He also served as a proxy for LOW in numerous financial transactions. He was the stated beneficial owner of several bank accounts into which misappropriated 1MDB funds were transferred. 35. Khadem Abdulla Al QUBAISI (“QUBAISI”), a U.A.E. national, was the Managing Director of IPIC from 2007 to 2015 and the Chairman of Aabar in at least 2012 and 2013. During this time, he was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public official” as that term is used in Article(5) of United Arab Emirates Law, Federal Law No (3) Of 1989 On Issuance Of The Penal Code. QUBAISI also was a director of Aabar-BVI. 36. Mohamed Ahmed Badawy Al-HUSSEINY (“HUSSEINY”), a U.S. citizen, was the CEO of Aabar from 2010 to 2015. During this time, he was a “public official” as that term is used in 18 U.S.C. § 1956(c)(7)(B)(iv) and a “public official” as that term is used in Article(5) of United Arab Emirates Law, Federal Law No (3) Of 1989 On Issuance Of The Penal Code. He was also a director of Aabar-BVI and AabarSeychelles.