High Court dismisses MACC's 1MDB asset forfeiture action on K&Z Enterprise

KUALA LUMPUR (Jan 3): The High Court here had today dismissed the Malaysian Anti-Corruption Commission's (MACC) application to forfeit K&Z Enterprise Sdn Bhd's money amounting to RM138,359.60, which is believed to be from 1Malaysia Development Bhd (1MDB).

Clothing manufacturer K&Z's lawyer Chew Chang Min told the theedgemarkets.com today that High Court Judge Datuk Muhammad Jamil Hussin ruled that K&Z had no reason to believe the money originated from unlawful activity.

According to Chew, Justice Muhammad Jamil also said the court agreed that the MACC has not proven the money that K&Z received was part of the four deposits identified as money originating from 1MDB.

Chew said the MACC was represented by deputy public prosecutor Farah Yasmin Salleh.

Earlier, it was reported that the MACC had initiated forfeiture actions against 41 individuals and entities alleged to have received money from 1MDB.

It was reported that the MACC is seeking some RM265 million from the forfeiture actions.

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