ANTI-CORRUPTION authorities have secured a court order to block transactions involving approximately US$1.7 million (about RM3.95 million) held in two Barbados bank accounts, in a move tied to ongoing efforts to trace funds allegedly misappropriated from the state investment fund 1Malaysia Development Berhad (1MDB).
The order was granted by a High Court judge in Kuala Lumpur after prosecutors demonstrated that the funds were linked to suspected money laundering activities under Malaysia’s anti-money laundering legislation.
The accounts, maintained at Amicorp Bank and Trust Limited in Barbados, are believed to have been used to receive, conceal, transfer and alter proceeds of unlawful activity over several years.
Chief Commissioner of the Malaysian Anti-Corruption Commission (MACC) Tan Sri Azam Baki said the action followed investigations by the agency’s Special Operations Division.
He explained that between 2014 and 2019, several individuals, including bank account holders and directors of offshore-incorporated companies, were suspected of involvement in handling illicit funds through corporate bank accounts in Barbados.
The Kuala Lumpur High Court authorised the freezing of US$56,285.88 in an account belonging to Lambasa Global Opportunity Fund BV and US$1,649,118.40 held by Universal Ventures Fund SCC.
Azam said the order reflected the commission’s continued commitment to tracking, freezing and forfeiting assets derived from money laundering activities, including those held abroad, in accordance with existing legal provisions.
“This action reflects the Malaysian Anti-Corruption Commission’s ongoing commitment to ensuring that every misappropriated fund can be traced and returned to the country.
“In the current challenging global economic climate, including uncertainties arising from conflicts in the Middle East, asset recovery efforts are not merely enforcement actions, but a responsibility to safeguard the nation’s financial interests.
“Every ringgit successfully recovered belongs to the people of Malaysia and will continue to be fought for,” he said in a statement here today.
He added that the commission would continue to strengthen international cooperation and utilise all available legal avenues to ensure that assets hidden overseas are identified, frozen and ultimately forfeited. - April 29, 2026
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