Former Malaysian PM Najib Razak to be charged with money laundering

$250 mil superyacht at centre of 1MDB scandal sails to Malaysia

Indonesia hands yacht linked to 1MDB over to Malaysia

According to a source with direct knowledge of the investigation, Najib will attend court on Wednesday, charged with three offences in relation to suspicious transactions at SRC International, formerly a subsidiary of 1MDB, the state investment fund at the centre of a multibillion dollar corruption scandal that has rocked Malaysia.

The Cayman Islands-registered Equanimity, believed to be worth some $250 million and belonged to a fugitive Malaysian financier with links to Najib, was seized in February off the Indonesian tourist island of Bali.

He said Malaysian officials took custody of Equanimity on the Indonesian island of Batam near Singapore.

Low also wants the U.S. to state any efforts it has made to secure the vessel in a status report by Aug 17, and say what actions the USA has taken to get clarification of Malaysia's intentions.

Cynthia Gabriel, a member of an official team set up to recover assets allegedly bought with stolen 1MDB money, said that the Equanimity being handed over to Malaysia was "very significant".

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This relates to the case involving SRC International, a former unit of state fund 1Malaysia Development Berhad (1MDB).

The former prime minister arrived at 4.58pm, accompanied by lawyers.

The DoJ previously alleged that the luxury yacht was among assets purchased by Low Taek Jho, nicknamed Jho Low and often referred to as the mastermind of the financial troubles at 1MDB, using funds siphoned from the state fund.

"The Court issued a Warrant of Arrest against it", he said in a statement today.

Low, through a spokesman from his legal team, has described the handing over of the yacht to Malaysia as illegal and politically motivated.

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The DoJ has sought to take custody of the Equanimity, after it was seized by Indonesia in February at the request of US authorities as part of a multi-billion dollar anti-kleptocracy investigation into 1MDB.

Mahathir has said anyone who wants to claim ownership of the yacht must show proof that the vessel was not bought with stolen funds.

"At the end of the day, the yacht must be sold off" so that Malaysia can recover as much money as possible from it, Lim said.

All the charges relate to the scandal surrounding sovereign wealth fund 1MDB, which was set up and overseen by Najib.

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