a day ago
- Business
- New Straits Times
RM4.5mil in 1MDB-linked assets forfeited to Malaysian government
KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has secured the forfeiture of US$954,299.58 (RM4.5 million) from a Swiss bank account linked to the 1Malaysia Development Berhad (1MDB) scandal.
In a statement today, MACC said the forfeiture was granted by High Court Judge Muniandy Kannyappan after the Deputy Public Prosecutor informed the court that no objections or third-party claims were filed during proceedings at the High Court in Kuala Lumpur.
"The judge allowed the funds — held in a BSI Bank account under the name Derivale Limited, with Azlin bin Alias listed as the beneficiary — to be forfeited to the Malaysian government," the statement read.
The forfeiture was made under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).
"This marks MACC's first successful overseas asset recovery through forfeiture without involving prosecution," it added.
