MACC blocks RM486.4mil in Swiss accounts linked to 1MDB funds

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has obtained a court order to block transactions involving US$115.3mil or about RM486.4mil kept in three Swiss bank accounts under the name of Prince Turki Abdullah Abdulaziz Al-Saud.

In a statement on Friday (Oct 10), MACC said the restraining order was granted by the Kuala Lumpur High Court to block the transactions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).

According to MACC, the application was made based on information received in 2011, which indicated that Prince Turki Abdullah Abdulaziz Al-Saud had received, transferred and used funds derived from the misappropriation of 1Malaysia Development Berhad (1MDB) through his personal bank accounts.

“Through this order, MACC successfully blocked transactions involving US$87.1mil and US$12.7mil in two accounts with J.P. Morgan and US$15.3mil in an account with UBS Switzerland,” the statement added.