1MDB forfeiture: Court sets Feb 19 to hear applications to inspect luxury items

03 Feb 2020 / 18:10 H.

KUALA LUMPUR: The applications by former prime minister Datuk Seri Najib Abdul Razak, his wife Datin Seri Rosmah Mansor and jewellery firm Global Royalty Trading SAL to obtain photographs of the assets seized from the premises belonging to Obyu Holdings Sdn Bhd, and to physically inspect the assets will be heard on Feb 19.

The assets, totalling RM680 million in value, are allegedly linked to the 1Malaysia Development Berhad (1MDB) financial scandal.

High Court judge Datuk Muhammad Jamil Hussin set the date after counsels representing Najib, Rosmah and the firm informed the court that their clients, as third parties in the prosecution’s application to forfeit the assets seized from Obyu Holdings’ premises, had submitted their applications last year.

Earlier, deputy public prosecutor Faten Hadni Khairuddin requested for more time from the court to allow the prosecution to file an affidavit-in-reply relating to the applications.

Counsel Tan Sri Muhammad Shafee Abdullah acted for Najib, while Rosmah was represented by Iskandar Shah Ibrahim. Global Royalty, was represented by P. Thilagam.

Counsel Datuk Kamarul Hisham Kamaruddin, representing Obyu Holdings, told the court that his client had filed a preliminary objection against the prosecution’s application, following which the court set the same date (Feb 19) to hear the notice.

Kamarul Hisham said Sarawak-based businessman, Tan Sri Bustari Yusof, has stated his intentions to become a third party in the assets forfeiture application, which had no objections from the prosecution.

Obyu Holdings is owned by Bustari, the younger brother of former Works Minister Datuk Seri Fadillah Yusof.

In the notice of motion filed against Obyu Holdings, the items included 11,991 units of jewellery, 401 watches and 16 watch accessories, 234 pairs of eyewear and 306 handbags, as well as cash in various denominations amounting to RM114,164,393.44.

A major portion of the luxury items seized by the police was reported to have been from an apartment belonging to Obyu Holdings.

In addition, a piece of property in Kuala Lumpur was also seized on Nov 1, 2018.

The prosecution had filed the application to forfeit the assets against Obyu Holdings under the of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Prior to this, MACC chief commissioner Latheefa Koya announced that a civil forfeiture suit had been filed against 41 respondents in a bid to recover about RM270 million in funds allegedly misappropriated from state-owned sovereign wealth fund 1Malaysia Development Berhad (1MDB). - Bernama

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