1MDB scandal: Akademi Pemuda stripped of rights to RM428,500

The High Court in Kuala Lumpur today ruled that the RM428,500 which was seized from Akademi Pemuda and allegedly linked to the 1MDB scandal now belongs to the Malaysian government as the academy has lost its rights to the funds.

Judicial Commissioner Ahmad Shahrir Mohd Salleh made the ruling after deputy public prosecutor Mohd Farez Rahman informed that the respondent (Akademi Pemuda) did not object to the application by the public prosecutor to deprive them of the property.

In today's proceedings, Akademi Pemuda was not represented and its representatives were also not present in court.

The civil forfeiture application was made by the public prosecutor under Section 56 (1) of the Anti-Money Laundering and Anti Terrorism Financing and Proceeds of Unlawful Activities Act (AMLATFPUAA) 2001.

MACC chief commissioner Latheefa Koya at a recent press conference said that civil forfeiture applications have been filed against 41 respondents to recover about RM270 million allegedly linked to 1MDB.

Latheefa said the applications were filed under the Anti-Money Laundering Act (Amla) as the funds were allegedly transferred from the personal Ambank account of former prime minister Najib Abdul Razak.

- Bernama