The funds, allegedly linked to 1MDB, are currently held in a client account on behalf of PetroSaudi Oil Services (Venezuela) (PSOS-VZ).
: The High Court here today allowed the government’s application to block PetroSaudi International Ltd and its director Tarek Obaid from using US$340 million linked to 1Malaysia Development Berhad .
Justice Datuk Ahmad Shahrir Mohd Salleh granted the prohibition order after the public prosecutor successfully demonstrated, through an affidavit, that the sum of US$340 million is either the subject matter or evidence of a money-laundering offence under Subsection 4 of the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 .
In 2020, the court granted the government’s application for an interim order to block the parties from moving the monies linked to 1MDB and keeping it in an escrow account held by the firm.
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