PetroSaudi, Tarek Obaid apply to amend interim order obtained by govt to block 1MDB-linked funds worth RM1.44bil

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KUALA LUMPUR (Bernama): PetroSaudi International Ltd (PSI) and its director, Tarek Obaid, are seeking to amend an interim order obtained by the government to prohibit them from moving over US$340mil (RM1.44bil), that is linked to 1Malaysia Development Berhad (1MDB) and kept in a client’s account at a UK law firm, to other entities.

The case came up for case management before Deputy Registrar Mahyuddin Md Som in his chambers on Wednesday in the presence of Deputy Public Prosecutor Muhammad Izzat Fauzan, who acted for the government, and lawyer Alex Tan, representing PetroSaudi Oil Services Limited .

Last July 16, Justice Mohd Nazlan allowed the government’s application for an interim order to block PSI and Tarek from moving the monies to other entities until the disposal of the main application on Aug 28. The government is also seeking unspecified money that was deposited under an intermediate account name, Temple Fiduciary Services Limited, at Barclays Bank in the UK. Both the specified and unspecified monies belonged to PSOS-VZ, which was wholly owned by Tarek through PSI.

The prosecution filed the application, which was supported by an affidavit affirmed by Malaysian Anti-Corruption Commission investigating officer Mohd Afiq Ab Aziz.

 

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