KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has obtained a court order to block transactions involving US$115.32mil (RM487.2mil) kept in three Swiss bank accounts under the name of Prince Turki Abdullah Abdulaziz Al-Saud.
In a statement on Friday (Oct 10), MACC said the restraining order was granted by the Kuala Lumpur High Court to block the transactions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
According to MACC, the application was made based on information received in 2011, that Prince Turki Abdullah Abdulaziz Al-Saud had received, transferred and used funds derived from the misappropriation of 1Malaysia Development Berhad (1MDB) through his personal bank accounts.
"Through this order, MACC successfully blocked transactions involving US$87.15mil and US$12.78mil in two accounts with JP Morgan and US$15.39mil in an account with UBS Switzerland," the statement added.
