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Putrajaya seeks to seize US$340 million from PetroSaudi, CEO | The Malaysian Insight

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Putrajaya seeks to seize US$340 million from PetroSaudi, CEO

Deputy public prosecutor Budiman Lutfi Mohamed after filing the Petro Saudi case at the Kuala Lumpur Court Complex today. – The Malaysian Insight pic by Hasnoor Hussain, July 14, 2020.

PUTRAJAYA filed for forfeiture action to be taken against PetroSaudi International Ltd, its subsidiary, PetroSaudi Oil Services Ltd, and Temple Fiduciary Services Ltd to recover more than US$340 million . The Kuala Lumpur High Court has set July 16 to hear another application by prosecutors for an order prohibiting law firm Clyde & Co LLP and PetroSaudi CEO Tarek Obaid from using the funds.

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