The Malaysian Anti-Corruption Commission has blocked three transactions involving some US$115.3 million, or about RM486.4 million, kept in Swiss bank accounts under the name of a purported Turkish prince.
MACC said the holder of the two JP Morgan and one UBS Switzerland bank accounts was one “Turkish Prince Abdullah Abdulaziz Al-Saud”.
In a statement today, it said the Kuala Lumpur High Court had issued a restraining order to block the transactions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Amla).
“This application was based on information MACC received in 2011, that ‘Turkish Prince Abdullah Abdulaziz Al-Saud’ had received, transferred and used proceeds from misappropriated 1MDB funds through his bank accounts,” it said.
