THE Kuala Lumpur High Court today allowed an application by the Malaysian Anti-Corruption Commission (MACC) for an interim order to prohibit dealing with overseas property involving an estimated amount of USD340,258,246.87 (RM1.452 billion) kept in an escrow account of an international law firm, Clyde & Co. LLP in London.

Judge Mohd. Nazlan Mohd. Ghazali allowed MACC’s application made in accordance with Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA 2001). The interim order is effective from 16 July 2020 until the disposal of application scheduled for 28 August 2020.

Accordingly, the MACC will extend this interim order to the authorities in the United Kingdom through "Mutual Legal Assistance" (MLA) for the property to be frozen while waiting for the disposal of the application.

As a result of the investigation, MACC believes that the money is related to a fraud conspiracy which involved the former Prime Minister, Datuk Seri Najib Razak; Chief Executive Officer (CEO) of PetroSaudi, Tarek Obaid; businessman, Low Taek Jho or Jho Low as well as individuals related to 1Malaysia Development Berhad (1MDB) and its subsidiaries.

MACC led this joint initiative with the Attorney General's Chambers (AGC), National Anti-Financial Crime Centre (NFCC), Central Bank of Malaysia and assisted by the International Law Enforcement Agency involving the National Crime Agency (NCA), International Anti-Corruption Coordination Center (IACCC) of the United Kingdom, the Federal Bureau of Investigation (FBI), the United States Department of Justice (DOJ) and the Swiss Law Enforcement Agency.

THE MALAYSIAN ANTI-CORRUPTION COMMISSION

PUTRAJAYA

16 JULY 20200