KUALA LUMPUR, April 28 — The Malaysian Anti-Corruption Commission (MACC) has obtained a prohibitory order on transactions involving funds amounting to US$1.7 million (RM6.7 million) held in the Caribbean nation of Barbados, believed to be linked to funds misappropriated from 1Malaysia Development Berhad (1MDB).
It said the funds were held in two bank accounts at Amicorp Bank and Trust Limited in Barbados.
“The order was issued by Kuala Lumpur High Court Judge Datuk Azhar Abdul Hamid today after he was satisfied with the prosecution’s application under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
“The application showed that the funds are linked to money laundering activities based on investigations by MACC’s Special Operations Division,” the MACC said in a statement.
Investigations found that between 2014 and 2019, several individuals who were account holders and directors of offshore companies are suspected of receiving, concealing, transferring, and converting proceeds of unlawful activities through the companies’ bank accounts in Barbados.
Following this, the Kuala Lumpur High Court allowed a prohibitory order on financial transactions involving US$56,285.88 (approximately RM222,441.80) in an account owned by Lambasa Global Opportunity Fund BV, and US$1,649,118.40 (approximately RM6,517,315.92) in an account owned by Universal Ventures Fund SCC.
Meanwhile, MACC Chief Commissioner Tan Sri Azam Baki said the action reflects their continued commitment to ensuring that all misappropriated funds are traced and returned to the country.
Amid the current challenging global economic conditions, including uncertainties arising from conflicts in the Middle East, asset recovery efforts are not merely enforcement actions but also a responsibility to safeguard the nation’s financial interests.
“Every ringgit successfully recovered belongs to Malaysians and will continue to be pursued. MACC will continue to strengthen international cooperation and utilise all available legal avenues to ensure that assets hidden abroad can be traced, frozen, and forfeited,” he said in a brief statement.
