Luxury yacht Galactica Star, valued at $50-million, confiscated from Kola Aluko, an ally of Former Minister of Petroleum Resources, Diezani Allison Madueke, has been sold. The sale was reported by Yacht Harbour, a media company that runs databases and online news portals in the yachting sector.
According to Yacht Harbour, the 65-metre Galactica Star was sold for $42 million on July 25.
The Nigerian and the U.S. Governments had secured a forfeiture order against the Aluko who has been accused of money laundering.
Following the forfeiture order, a U.S. District Court Judge approved its sale “due to the high maintenance and dockage fees, estimating the combined cost at around $170,000 per month”.
“The court also finds that the yacht is subject to market value depreciation and deterioration while it remains in the government’s possession.”
The Galactica Star accommodates up to 12 guests overnight in six cabins, comprising a master suite, one VIP stateroom, and four double cabins.
It is also capable of carrying up to 13 crew members onboard to ensure a luxurious yacht experience.
The yacht used to be popular for charter among celebrities – including American music industry power couple, Jay Z and Beyonce.