The Topaz and Sheikh Mansour link to 1MDB

While much attention has been focused on the US$250 million Equanimity that Jho Low bought with stolen 1MDB money, Malaysia may yet be able to make a claim on an even bigger super yacht — Topaz.

This is because close to €120 million (US$140 million) that originated in 1MDB is believed to have been used to pay for Topaz, which was built in 2012 for its beneficial owner, Sheikh Mansour bin Zayed Al Nahyan.

Sheikh Mansour is well known as the owner of Manchester City football club. He was the chairman of International Petroleum Investment Co (IPIC), which is embroiled in a multibillion-dollar dispute with Malaysia over its transactions with 1MDB.

The 482ft Topaz cost around €400 million (US$450 million) to build compared with the US$250 million that was paid for the 300ft Equanimity, which was delivered to Jho Low in 2014. Both were built at German shipyards.

The 1MDB money that was used

... read more at: http://www.theedgemarkets.com/article/topaz-and-sheikh-mansour-link-1mdb

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