Thursday, March 30, 2023

Seized Assets worth over RM114 million returned to UMNO and Najib

NewsSeized Assets worth over RM114 million returned to UMNO and Najib

Assets worth over RM114 million that were previously seized by the Royal Malaysia Police (PDRM) at the luxury condominium at Pavilion Residences on 17 May 2018 have been returned to former Prime Minister, Datuk Seri Najib Tun Razak and UMNO.

According to Astro Awani, Deputy Public Prosecutor Faten Hadni Khairuddin said that the seized assets have been returned to the aforementioned parties on 17 June.

She said that the assets were returned because the prosecution did not apply to file an appeal after High Court Judge Datuk Muhammad Jamil Hussin rejected the prosecution’s application on 20 May to forfeit the assets.

Source: The Edge Markets

“Assets were returned to the Najib through his representative because the applicant did not file an appeal.” she said.

Earlier in May 2018, High Court Judge Datuk Muhammmad Jamil rejected the prosecution’s application, saying that the public prosecutor failed to prove the seized assets worth a total of RM114,164,393.44 were involved in the 1Malaysia Development Berhad (1MDB) scandal.

In addition, the judge also rules that the public prosecutor failed to prove that the money existed as an outcome of money laundering activities.

Despite that, the judge had not order for the money, which is held by Bank Negara Malaysia (BNM), to be returned to the owners.

According to the records, the prosecution in 2019 had filed a forfeiture application against OBYU Holdings to forfeit the goods that included 11,991 units of jewellery, 401 watch straps and 16 watch accessories, 234 pairs of spectacles as well as 306 handbags and cash in various denominations amounting to RM114,164,393.44.

Stay tuned for more updates!

Trending now

- Advertisement -

Subscribe to our newsletter!

Recommended for you