Latest news with #MuniandyKannyappan
The Star
a day ago
- Business
- The Star
Over RM4mil in 1MDB-linked funds in Swiss bank account recovered by MACC
PETALING JAYA: Over RM4mil traced to a Swiss bank account and linked to the embezzlement of 1Malaysia Development Berhad (1MDB) funds was successfully recovered recently by the Malaysian Anti-Corruption Commission (MACC). The commission said in a statement on Friday (June 13) that the sum of USD954,299.58 found in a BSI bank account was returned to the Malaysian government. The MACC said the forfeiture was granted by High Court judge Muniandy Kannyappan on learning from the prosecution that no objections or claims were made by any party in relation to the funds during proceedings at the Kuala Lumpur High Court on Friday. The commission said judge Muniandy allowed the funds, which were in a bank account registered in the name of Derivale Limited and named one Azlin bin Alias as the beneficiary, to be forfeited to the Malaysian government through the MACC. The forfeiture was made under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001). The case was also the MACC's first success in recovering overseas assets without resorting to the process of prosecution. Follow us on our official WhatsApp channel for breaking news alerts and key updates!
New Straits Times
a day ago
- Business
- New Straits Times
MACC secures RM4.5mil from Swiss bank account linked to1MDB scandal
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, the 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 (Criminal 2) in Kuala Lumpur. "The judge allowed the funds, held in a BSI Bank account under the name Derivale Limited, with Azlin 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 the MACC's first successful overseas asset recovery through forfeiture without involving prosecution," it added.
New Straits Times
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.
