Govt attempts to restrain PetroSaudi from using alleged 1MDB funds in UK firm

News

Published on 14 Jul 2020 1:41:24 PM

The Malaysian government has filed an application in the Kuala Lumpur court seeking to stop PetroSaudi International from using over US$340mil allegedly from 1MDB now in the custody of the company’s UK law firm.

The government contended that the money in Clyde & Co LLP was proceeds from unlawful activities.

The deputy public prosecutor cited Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) as basis for its application.

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Keywords
1mdb, amla, budiman lutfi mohamed, clyde & co llp, malaysia, money laundering, petrosaudi

Keywords:
1mdb, amla, budiman lutfi mohamed, clyde & co llp, malaysia, money laundering, petrosaudi