KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has obtained a High Court order to block three transactions totalling US$115,320,661.63 (approximately RM486.4 million) in Swiss bank accounts, allegedly linked to misappropriated 1Malaysia Development Berhad (1MDB) funds held under the name of Prince Turki Abdullah Abdul Aziz Al-Saud.
The three transactions involved US$87,148,732.89 and US$12,777,759.74 in two bank accounts at J.P. Morgan, and US$15,394,169 in a UBS Switzerland bank account.
In a statement today, the MACC said the order was issued by Judge Nurulhuda Nur’aini Mohamad Nor during a hearing held yesterday, after considering the application filed by the MACC on Oct 7 this year.
The order was issued under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
According to the commission, the application was based on information received by the MACC in 2011 that Prince Turki had received, transferred and used proceeds from the misappropriation of 1MDB funds through his bank accounts.
