US court approves sale of 1MDB-linked jet impounded by Singapore

On Oct 26, 2018, it was reported that the US Department of Justice and Global One Aviation had jointly asked the court's permission to sell the Bombardier Global 5000 jet aircraft.
On Oct 26, 2018, it was reported that the US Department of Justice and Global One Aviation had jointly asked the court's permission to sell the Bombardier Global 5000 jet aircraft.PHOTO: AFP

PETALING JAYA (THE STAR/ASIA NEWS NETWORK) - A US court has reportedly approved the sale of a jet which was allegedly acquired with money stolen from Malaysian state fund 1Malaysia Development Berhad (1MDB).

The decision was made on an agreement between the US Department of Justice (DOJ) and the claimant Global One Aviation to auction off the aircraft, which was impounded by the Singaporean authorities last year and has been parked at the Seletar Airport.

According to a media statement issued by a consultancy firm claiming to represent Global One Aviation, the parties have agreed that the proceeds of the sale will be held in escrow in the US until the legal rights of the various parties can be determined through proper judicial proceedings.

"This agreement has been reached in cooperation with the United States government to ensure that the parties' legal rights with respect to the jet are maintained, and that the jet's value is not depleted while these claims are appropriately resolved," the statement said, quoting Global One Aviation's lawyer.

On Oct 26, it was reported that DOJ and Global One Aviation had jointly asked the court's permission to sell the Bombardier Global 5000 jet aircraft, which is linked to Malaysian businessman Jho Low, who is on the run over his role in the 1MDB case.

The statement said the US District Court for the Central District of California issued the ruling on Wednesday (Oct 31).

The Malaysian Government has said it wants to bring back the private jet. The authorities on Monday launched an auction for a luxury yacht which also used to belong to Low.