Government wants to prohibit Petrosaudi from using US$340m linked to 1MDB

: The government is seeking a court order to block PetroSaudi International Ltd and its director Tarek Obaid from using over US$340 million linked to 1Malaysia Development Berhad kept in a client’s account at a United Kingdom’s law firm.

Both the specified and unspecified monies belonged to PSOS-VZ, which was wholly owned by Tarek through PSI. Mohd Afiq said he was one of the investigating officers responsible for the 1MDB investigation and in his course of duty, he had uncovered information that has led him to reasonably believe and suspect that the assets being held or deposited abroad were proceeds from illegal activities.

Mohd Afiq said the application under AMLATFPUAA was to block the monies was appropriate until such a time that the court could definitively determined whether the monies rightfully belong to 1MDB.

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