The MACC has unfrozen the remaining two bank accounts of Arul Kanda Kandasamy yesterday, one day after the former 1MDB CEO filed a legal bid to unfreeze it.
This was revealed by the applicant's counsel N Sivananthan during open-court proceedings before Kuala Lumpur High Court judge Mohamed Zaini Mazlan this morning.
The court was scheduled today to hear Arul Kanda's application to compel the MACC to unfreeze his two Maybank accounts.
The accounts were among eight that were frozen as part of a money-laundering investigation on July 12 last year.
However, the other six accounts had since been unfrozen, which left only the remaining two Maybank accounts.
"This application, filed on Monday, is in relation to the two frozen accounts.
"Fortunately yesterday, an order was issued by the respondent (MACC) to release the accounts under Section 55 (of Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 or AMLATFPUA)," Sivananthan said.
When Zaini pointed out that the application had also sought damages linked to the freezing of the two accounts, the lawyer said he has instructions from his client not to proceed with the application anymore.
"Yes, but I got instruction from my client not to proceed anymore. He wishes to withdraw the claim for damages on said accounts," Sivananthan said.
DPP Mohd Isa Mohamed mentioned on behalf (MOB) of the legal representatives for MACC, while Arul Kanda was not present as he was on sick leave.
When met by journalists after proceedings, Sivananthan (photo) said that they had filed the application on Monday because MACC took no further legal action on the accounts, following being frozen on July 12 last year.
"Two of my client's accounts were frozen on July 12, 2018, but nothing was done. There was no prosecution (of Arul Kanda in court) in regards to the seized accounts as of July 12 this year.
"We have written to MACC to unfreeze the accounts, but since nothing was done (by MACC), we filed the application on Monday.
"Fortunately, yesterday the MACC issued a directive to Bursa (Malaysia) and Maybank to unfreeze the accounts. None of my client's accounts is frozen anymore," Sivananthan said.
The two MayBank accounts are CDS accounts for share-trading, hence why the MACC unfreezing directive was to Bursa Malaysia and Maybank.
The lawyer explained that under Section 44 of the Act, the order to freeze accounts for investigation can only be for 12 months.
Section 56 (3) of the Act also states that in the event that no related prosecution and conviction, as well as forfeiture, is done on the frozen assets within the 12-month period, then it must be returned to its owner.
When asked whether MACC has given any reason for the freezing of the accounts, Sivananthan said the antigraft watchdog gave no reason as there is no such requirement under the Act.
In regards to how many of Arul Kanda's accounts were frozen on July 12, Sivananthan replied it was eight.
"There were eight altogether. However, six had since been released in the course of the 12 months (of the legal freezing period) from July 12 (last year)," he said.
Arul Kanda and former prime minister Najib Abdul Razak are charged with alleged tampering of the final audit report on 1MDB, and the first day of the hearing is scheduled on Nov 18. - Mkini
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