Malaysia's Anti-Corruption Commission (MACC) has taken a significant step in its pursuit of assets linked to the 1MDB scandal by filing a court order to forfeit overseas funds worth US$115.3 million belonging to Saudi Prince Turki Abdullah Al Saud. The funds, suspected to be proceeds from the multibillion-dollar 1MDB embezzlement case, are held in several Swiss bank accounts under the prince's name.
The forfeiture application was submitted under Sections 56(1), 59, and 61(2) of Malaysia's Anti-Money-Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act. This legal move aims to seize the assets permanently, building on prior efforts to restrict access to these funds.
Specifically targeted are approximately US$115.3 million in accounts at JP Morgan (Suisse) and UBS Switzerland. These holdings represent a key focus of MACC's international asset recovery operations related to the 1MDB scandal, which has implicated high-profile figures across borders.
MACC Chief Commissioner Azam Baki confirmed the filing of the court application on Sunday, underscoring the agency's ongoing commitment to recovering misappropriated public funds. His statement highlights the latest development in a protracted legal battle spanning continents.
This forfeiture bid follows a previous action in October 2026, when the MACC secured a court order to block US$115.3 million in transactions across three Swiss bank accounts registered under Prince Turki Abdullah Al Saud's name. That interim measure had frozen the funds, paving the way for the current push toward permanent seizure.
The involvement of Prince Turki Abdullah Al Saud's accounts in the 1MDB probe adds another layer to the scandal's global reach, with Malaysian authorities methodically targeting offshore repositories of the allegedly laundered funds. The Swiss accounts remain central to these recovery efforts.
