The luxury yacht that was allegedly bought with funds siphoned from 1MDB has been seized off the coast of Teluk Benoa in Bali, after a joint operation by Indonesian and the US Federal Bureau of Investigation (FBI).

Indonesian media reports indicate that there were 34 crew members on The Equanimity and that the vessel had been in Indonesian waters since November last year.

Reuters, citing Metro TV, said the yacht was seized with court approval.

"We have been inspecting the crew since yesterday and now we are taking action since we have received approval from the court to seize the boat," Agung Setya, director of economic and special crimes at Indonesia's criminal investigation bureau, told Metro TV.

There is no word of whether businessperson Low Taek Jho @ Jho Low was on board the reportedly US$250 million (RM1 billion) vessel.

Numerous reports and photographic evidence have shown that The Equanimity was used by Low to host lavish parties, with Hollywood A-listers including Leonardo DiCaprio and supermodel Miranda Kerr among those who have been on board.

The vessel is being sought by the US Department of Justice (DOJ) on the grounds that it was bought using laundered money involving 1MDB.

Read more: What's in DOJ's third and latest bombshell?

In total, the DOJ is seeking to seize approximately US$1 billion worth of assets which was allegedly bought with 1MDB funds that were misappropriated.

Putrajaya has maintained that 1MDB funds are not missing.

However, both DiCaprio and Kerr have handed in assets which were being sought by the DOJ.

In October last year, Deputy Prime Minister and Home Minister Ahmad Zahid Hamidi said he had no information about Low's yacht. At the time, the yacht was spotted off Phuket, Thailand.

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