MACC Seeks Forfeiture of Prince Turki’s Assets Linked to 1MDB Funds
The Malaysian Anti-Corruption Commission (MACC) has filed a court order to forfeit overseas assets belonging to Prince Turki Abdullah Al Saud, alleging the funds are linked to the misappropriation of 1Malaysia Development Berhad (1MDB) funds. The assets, totaling approximately US$115.3 million, are held in several Swiss bank accounts, including those at JP Morgan (Suisse) SA and UBS Switzerland AG.
Details of the Forfeiture Application
MACC chief commissioner Azam Baki confirmed the court application on Sunday, February 15, 2026. The application falls under Sections 56(1), 59, and 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
Previous Restraining Order
In October 2026, the MACC had already obtained an order to block US$115.3 million in transactions held in three Swiss bank accounts under Prince Turki Abdullah Al Saud’s name. This initial move was based on information received in 2011, which alleged that the prince had received, transferred, and used proceeds from the 1MDB funds through his bank accounts South China Morning Post.
Ongoing Efforts to Recover 1MDB Funds
This latest action by the MACC represents a continued effort by Malaysia to recover funds allegedly misappropriated from 1MDB. The commission remains committed to ensuring that any proceeds derived from illegal activities are addressed according to the law Free Malaysia Today.
Asset Locations
The assets subject to the forfeiture order are located in several Swiss bank accounts, specifically within JP Morgan and UBS Switzerland The Star.