news

June 4 decision on 1MDB-linked forfeiture suit against Jakel Trading

KUALA LUMPUR (May 13): The High Court here will deliver its verdict on the government’s application to forfeit RM628,314 allegedly linked to the 1Malaysia Development Bhd (1MDB) scandal that was seized from Jakel Trading on June 4.

The decision was supposed to be handed down by Judicial Commissioner Datuk Ahmad Shahrir Mohd Salleh on April 28 but has been rescheduled to June 4 due to the extension of the Conditional Movement Control Order by the government.

The matter was informed by Jakel Trading's lawyer Thevini Nayagam when contacted by Bernama today.

In June last year, the Malaysian Anti-Corruption Commission (MACC) filed a civil forfeiture suit against 41 entities, comprising individuals, companies and political parties, under the Anti-Money Laundering and Anti-Terrorism Financing Act to recover about RM270 million believed to be linked to 1MDB.

MACC believed the money was illegally transferred from the accounts of former prime minister Datuk Seri Najib Tun Razak.

Stay safe. Keep updated on the latest news at www.EdgeProp.my

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Malaysia’s active Covid-19 cases dip below 100 for first time, as recoveries continue to outpace new cases
  2. Court dismisses MACC's application to forfeit RM4.6m belonging to Mediaedge
  3. Umno files contempt proceeding against CIMB for non-release of frozen RM192m