The Kuala Lumpur High Court today granted the government’s request for a temporary injunction preventing PetroSaudi International Limited from using over US$340 million (RM1.45 billion) allegedly linked to 1MDB.
The injunction also applied to the oil services company's director Tarek Obaid (above) and three others.
Judge Mohd Nazlan Mohd Ghazali issued the order upon hearing the application. He was informed that the funds are in an account in the UK.
“The court has the power to issue an ad-interim (temporary) order. Now I issue (the order)," Nazlan said, adding that the order will be in force until the court hears the main asset forfeiture application.
The asset forfeiture application will be heard on Aug 28.
In its application filed on July 10, the government said the US$340,258,246.87 at London-based Clyde & Co LLP owned by Petrosaudi and its subsidiary PetroSaudi Oil Services (Venezuela) Limited was derived from money-laundering.
The application was filed under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001.
The government also filed, under the same application, a prohibition on dealings with money held under the intermediate account name of Temple Fiduciary Services Limited. An affidavit supported the application.
Malaysian Anti-Corruption Commission investigating officer Mohd Afiq Abdul Aziz alleged the money was linked to a conspiracy involving Tarek, former premier Najib Abdul Razak, and fugitive businessperson Low Taek Jho also known as Jho Low.
PetroSaudi was formerly a joint-venture partner with 1MDB.
[More to follow] - Mkini
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