Court grants order to stop PetroSaudi from moving US$340 million linked to 1MDB
The US$340 million belonged to PSOS-VZ, which was wholly owned by PetroSaudi International director Tarek Obaid. – July 16, 2020.
THE Kuala Lumpur High Court today allowed the government’s application for an interim order to block PetroSaudi International Ltd and its director, Tarek Obaid, from moving more than US$340 million , linked to 1Malaysia Development Bhd and kept in a client’s account at a UK law firm, to other entities.
Judge Mohd Nazlan Mohd Ghazali ruled that the court has jurisdiction to grant the interim preservation order sought by the prosecution. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
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