Govt seeks to forfeit assets of former 1MDB director

KUALA LUMPUR: The government is seeking to forfeit the assets of a former 1Malaysia Development Bhd (1MDB) director, Casey Tang, who is known as an associate of fugitive financier Low Taek Jho.

The forfeiture suit, which was first filed in November 2021, is seeking to recoup a total of RM156,500 from four bank accounts, a bungalow house in Bandar Kinrara, and a shoplot in Bandar Puchong Jaya, as well as a Subaru XV 2.0i.

The matter came up before Justice Collin Lawrence Sequerah here on Friday (Sept 30).

During the proceedings, a representative from Maybank entered an appearance as a third party to claim the bungalow.

It is understood that the property is still under loan with Maybank.

Deputy Public Prosecutor Noor Zalizan Lazarous appeared for the government.

The matter is fixed for case management on Oct 12.

The forfeiture suit against Tang, whose whereabouts is currently unknown, is part of a multiple forfeiture applications under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, which was launched by the Malaysian Anti-Corruption Commission (MACC) in June, 2019.

The forfeiture suits were filed against 41 individuals and entities, including Umno, to recover RM270mil allegedly from 1MDB funds.

MACC's then chief commissioner Latheefa Koya said the monies that were disbursed to these 41 recipients and entities all came from former prime minister Datuk Seri Najib Razak's personal bank account.

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