Court bars Petrosaudi director from selling 1MDB-linked shares


KUALA LUMPUR: Tarek Obaid, a director of PetroSaudi International Ltd (PSI), has been prohibited from selling his 2.5 million shares in Palantir Technologies, which are allegedly connected to 1Malaysia Development Berhad (1MDB).

High Court judge Justice Datuk Azhar Abdul Hamid issued the order on Friday (Oct 3) after allowing an application under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001 by deputy public prosecutor Nurul Izzati Sapifee.

The prosecution had sought the prohibition order via an ex-parte notice of motion to be issued to Obaid and US-based Palantir Technologies.

According to the applicant, all assets, property, and legal interests pertaining to the 2.5 million shares registered in Obaid's name are linked to an investigation into offences under Section 28(1)(c), read together with Section 23(1) of the Malaysian Anti-Corruption Commission Act 2009; and Section 4(1)(a) of AMLATFPUAA, involving 1MDB.

The prosecution applied for Obaid and Palantir Technologies to be barred from conducting any transaction to transfer, sell, or otherwise dispose of the said shares. – Bernama

 

 

 

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