Indonesia court rules against luxury yacht seizure

JAKARTA, Indonesia (AP) — A Jakarta court has ruled against the Indonesian police's seizure of a luxury yacht wanted as part of a U.S. probe into alleged multibillion-dollar theft and laundering of funds from a Malaysian state investment company.

The South Jakarta District Court sided Tuesday with lawyers for the yacht's owner, who argued the seizure was not carried out in accordance with Indonesian law.

Indonesian police seized the $250 million Equanimity off Bali on Feb. 28 in cooperation with the FBI but were prevented from handing it over to the U.S. after a legal challenge from the yacht's Cayman Islands-registered holding company.

The Equanimity is among assets the U.S. alleges were bought by Malaysian national Jho Low using money stolen from the Malaysian fund and laundered through Singapore, Switzerland, Luxembourg and the U.S.