US DoJ launches bid to seize RM1.3b in suspected 1MDB funds from London law firm - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +--- Thread: US DoJ launches bid to seize RM1.3b in suspected 1MDB funds from London law firm (/thread-693.html)

US DoJ launches bid to seize RM1.3b in suspected 1MDB funds from London law firm - superadmin - 02-08-2021 KUALA LUMPUR, Feb 8 — The US Department of Justice (DoJ) has issued an arrest warrant to a law firm in London for the seizure of US$330 million (RM1.34 billion) allegedly misappropriated from 1MDB and held on behalf of a client. According to The Guardian newspaper, the UK’s National Crime Agency served the in rem warrant issued on October 29 to Clyde & Co on behalf of the DoJ, targeting the funds held in the National Westminster Bank. An in rem warrant is issued by a court over possessions or persons in legal jurisdictions outside its authority. According to the DoJ’s filing, it alleged the funds to be the result of the embezzlement of over US$4 billion at Malaysia’s 1MDB, which the perpetrators laundered for bribe payments or to fund their lavish personal lifestyles. - More -