KUALA LUMPUR – The Malaysian Anti-Corruption Commission (MACC) has successfully obtained a Prohibition Order from the Kuala Lumpur High Court to prevent certain parties from dealing with assets linked to funds associated with 1Malaysia Development Bhd (1MDB), amounting to US$340 million (RM1.5 billion) held abroad.
In a statement, the MACC revealed that the assets are currently under the custody of the UK Court Funds Office in the United Kingdom.
According to the MACC, the order was issued by high court judge Datuk Ahmad Shahrir Mohd Salleh on December 10 after the court was satisfied with evidence presented by the prosecution, which demonstrated that the funds were linked to money laundering activities.
“This order also effectively prevents the CEO of Petrosaudi International Ltd (PSI), Tarek Obaid, from accessing the funds,” the statement read.
The Prohibition Order was issued under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLTFPUAA 2001) following a prosecution application filed in 2020.
Previously, on March 13, 2024, MACC also successfully obtained a Prohibition Order over 41 pieces of jewellery valued at GB£9,417,842.60 belonging to Tarek Obaid in Hong Kong. – December 12, 2024