PUTRAJAYA: The Malaysian Anti-Corruption Commission (MACC) has obtained a court order preventing access to assets valued at US$340 million, connected to the 1Malaysia Development Bhd (1MDB) scandal. These funds are currently held by the UK Court Funds Office in the United Kingdom.

According to BERNAMA News Agency, High Court Judge Datuk Ahmad Shahrir Mohd Salleh granted the prohibition order on December 10, after determining that the prosecution had presented sufficient evidence to link the funds to money laundering activities. The order specifically bars Tarek Obaid, the chief executive officer of Petrosaudi International Ltd (PSI), from accessing the funds.

The 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. Earlier this year, on March 13, the MACC also secured a prohibition order on 41 pieces of jewellery belonging to Tarek Obaid, valued at 9.417 milli
on pounds sterling, located in Hong Kong.