PETALING JAYA: Over RM4mil traced to a Swiss bank account and linked to the embezzlement of 1Malaysia Development Berhad (1MDB) funds was successfully recovered recently by the Malaysian Anti-Corruption Commission (MACC).
The commission said in a statement on Friday (June 13) that the sum of USD954,299.58 found in a BSI bank account was returned to the Malaysian government.
The MACC said the forfeiture was granted by High Court judge Muniandy Kannyappan on learning from the prosecution that no objections or claims were made by any party in relation to the funds during proceedings at the Kuala Lumpur High Court on Friday.
The commission said judge Muniandy allowed the funds, which were in a bank account registered in the name of Derivale Limited and named one Azlin bin Alias as the beneficiary, to be forfeited to the Malaysian government through the MACC.
The forfeiture was made under Section 56 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).
The case was also the MACC's first success in recovering overseas assets without resorting to the process of prosecution.
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