THE prosecution obtained orders to freeze 1MDB-linked cash and assets of a Saudi Arabian prince and a former media adviser to former prime minister Datuk Seri Najib Abdul Razak.
The court, presided by Justice K Muniandy, issued the orders against Prince Faisal bin Turki Al Saud and Paul Geoffrey Stadlen, to stop further dealings involving monies and shares abroad.
This was during case management today, following applications filed by the government yesterday.
The prosecution had submitted two applications as part of 1Malaysia Development Bhd (1MDB) asset recovery efforts under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities, which prohibits dealing with property outside Malaysia.
Deputy public prosecutor Mahadi Abdul Jumaat said Stadlen held over 12 million units of shares worth hundreds of millions of US dollars in an asset management company in the United Kingdom.
The shares are believed to have been obtained from the proceeds of the East Coast Rail Link, the Multi Product Pipeline and the Trans-Sabah Gas Pipeline.
"We also applied for the same order for a sum of US$4.5 million held by an individual identified as “Prince Faisal Turki Al Saud” at Riyad Bank in Saudi Arabia related to 1MDB," said Mahadi.
The court granted the orders as applied by Mahadi.
After proceedings, Mahadi said the attorney-general will rely on the mutual legal assistance to convey the court order to his counterparts in Saudi Arabia and the UK.
The order to the Saudi government would be translated to Arabic before it is served by the attorney-general to his Saudi and British counterparts.
Per international relations, it is up to the target countries whether they wish to comply with Malaysia’s freezing order.
Prince Faisal had been mentioned in the 1MBD trial, where it was alleged that Najib had received millions in funds from him and the Saudi government in 2011.
Stadlen, who was Najib's strategic media officer and wanted by the Malaysian Anti-Corruption Commission, had left Malaysia before the 14th General Election.
The British national was charged in absentia with two counts of money laundering involving RM15 million.
However, the charges were withdrawn after he agreed to release over RM7.1 million.
This development marks another step in ongoing efforts to recover funds allegedly misused in connection with the 1MDB scandal and other related projects. – March 6, 2025
