The Malaysian government has filed an application in the Kuala Lumpur court seeking to stop PetroSaudi International from using over US$340mil allegedly from 1MDB now in the custody of the company’s UK law firm.
The government contended that the money in Clyde & Co LLP was proceeds from unlawful activities.
The deputy public prosecutor cited Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (Amla) as basis for its application.
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