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THE Malaysian Anti-Corruption Commission (MACC) has filed a court application seeking the confiscation of overseas assets worth approximately US$115.3 million (around RM465 million) held in the name of ‘Prince Turki Abdullah Al-Saud Putera’, authorities confirmed.
MACC Chief Commissioner Tan Sri Azam Baki said the application was submitted on February 23 under Sections 56(1), 59 and 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA).
“The assets in question comprise a total of US$115,320,661.63 held in multiple bank accounts in Switzerland, including J.P. Morgan (Suisse) SA and UBS Switzerland AG,” Azam said in a statement today.
“This action is undertaken in accordance with legal provisions that empower SPRM to seek the seizure of assets believed to be proceeds of unlawful activities, subject to a court order.”
He emphasised that MACC is committed to ensuring that any gains obtained through illegal activity are addressed in accordance with the law.
Last October, MACC obtained an injunction preventing transactions from three Swiss bank accounts held under Prince Turki Abdullah Abdul Aziz Al-Saud’s name.
This was followed by a February High Court order in Kuala Lumpur under Section 53 of AMLATFPUAA, further restricting the movement of the funds.
According to information received by MACC in 2011, Putera Turki is alleged to have received, transferred and utilised funds misappropriated from 1Malaysia Development Berhad (1MDB) through his bank accounts. - April 1, 2026