US DoJ launches bid to seize RM1.3b in suspected 1MDB funds from London law firm

[superadmin]

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.


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