Kuala Lumpur, Malaysia (CNN)Disgraced former Malaysian Prime Minister Najib Razak appeared in court Wednesday over corruption accusations related to the sprawling 1MDB scandal, as on the same day, the country’s government finally began the process of recouping some of the nearly $5 billion allegedly stolen from the fund.
Malaysian officials said Wednesday they would sell a luxury superyacht belonging to the alleged mastermind of the 1MDB financial scandal for about half its estimated value. Prosecutors claim the 91.5-meter (300 foot) Equanimity, was bought by Malaysian financier Jho Low with a portion of the billions allegedly embezzled from 1MDB, the country’s sovereign wealth fund set up by former PM Najib.
News of the sale came as Najib appeared in court for the first time for the much delayed start of his trial over alleged corruption and abuses of power in connection with the scandal. Both he and Jho Low — who remains at large — deny any wrongdoing.
