News about Tarek Obaid

KUALA LUMPUR (March 17): The High Court here today has fixed Sept 6-7, 2021 to hear the prohibition order application by the Malaysian government against PetroSaudi International Ltd (PSI) and Saudi businessman Tarek Obaid from using over US$340 million (RM1.

KUALA LUMPUR (Nov 10): The scheduled High Court hearing here today of the Malaysian government's planned forfeiture of US$340.

KUALA LUMPUR (Sept 17): Solicitors representing the Malaysian Anti Corruption Commission (MACC) is currently looking into reports that the United States Department of Justice is seeking some US$300 million additional assets allegedly from 1Malaysia Development Bhd (1MDB), a sum that the MACC is also seeking to recover from several parties via a forfeiture application.

KUALA LUMPUR (Sept 15): PetroSaudi Oil Services (Venezuela) Ltd (PSOSL) (Incorporated in Barbados) reiterated its undertaking to the High Court today that it would not move the disputed US$340.

KUALA LUMPUR (July 16): The High Court here had today issued an ad-interim (temporary) order barring Tarek Obaid, PetroSaudi Oil Services (Venezuela) Ltd and three others from moving US$340.

KUALA LUMPUR (July 14): The High Court today allowed an ex-parte application by public prosecutors to be heard on Thursday in a bid to obtain a prohibition order against PetroSaudi International Ltd and Tarek Obaid from using over US$340 million (RM1.

KUALA LUMPUR (July 14): The prosecution had on Friday filed a notice of motion for forfeiture action against Tareq Obaid, PetroSaudi International Ltd, PetroSaudi Oil Services (Venezuela) Ltd, Clyde and Co LLP and Temple Fiduciary Services Ltd.

KUALA LUMPUR (May 19): Former Goldman Sachs Group Inc banker Roger Ng Chong Hwa, who was supposed to return to Malaysia in March in time for his criminal trial involving 1Malaysia Development Bhd (1MDB), is still in the United States as he is facing criminal charges there.

KUALA LUMPUR (May 7): The US has reached a settlement to recover more than US$49 million involving Malaysian sovereign wealth fund 1Malaysia Development Bhd (1MDB), the US Department of Justice (DoJ) said in a Reuters report today.

KUALA LUMPUR (March 13): The 1MDB-Tanore trial is adjourned, pending the COVID-19 test results of lead defence lawyer Tan Sri Muhammad Shafee Abdullah, who today showed the court documentary evidence that he was indeed ordered to go into self-quarantine.