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HomeMalaysia NewsNajib Razak Fails to Remove Mareva Injunction in 1MDB Case; Assets Frozen...

Najib Razak Fails to Remove Mareva Injunction in 1MDB Case; Assets Frozen at $681 Million: Report

Former Malaysian Prime Minister Najib Razak has encountered a setback in his legal battle related to the 1MDB scandal. His attempt to lift a Mareva injunction, which froze assets worth $681 million, was unsuccessful. The injunction, aimed at preserving assets linked to the alleged misappropriation of 1MDB funds, remains in place as the legal proceedings continue.

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In a significant legal development, former Malaysian Prime Minister Datuk Seri Najib Razak’s attempt to have the Mareva injunction lifted in the 1Malaysia Development Bhd (1MDB) case has been unsuccessful. High Court Judge Atan Mutaffa Yussof Ahmad upheld the Court of Appeal’s decision, maintaining the freeze on Najib’s assets and restricting him to withdraw a maximum of RM100,000 monthly.

The Mareva injunction, a court-ordered freeze on a defendant’s assets, prevents their dissipation pending the outcome of a legal action. In this case, the injunction forbids Najib from removing or disposing of assets valued at up to US$681,000,000 (RM3,204,445,500) globally until the case reaches a resolution.
This legal battle stems from a suit filed by 1MDB and four of its subsidiaries against Najib and former senior management. The Court of Appeal previously denied Najib’s request to cancel a similar Mareva injunction by SRC International Sdn Bhd, which aimed to prevent him from transferring or disposing of assets worth RM42 million.

The injunction remains in effect while awaiting the final decision in the US$8 billion lawsuit filed by 1MDB and its subsidiaries. Alongside Najib, other defendants in the case include former 1MDB financial director Terrence Geh Choh Heng, former 1MDB lawyer Jasmine Loo Ai Swan, former 1MDB executive director Casey Tang Keng Chee, former chief operations officers Vincent Beng and Radhi Mohamad, former 1MDB investment director Kelvin Tan Kay Jim, and former SRC International CEO Nik Faisal Ariff Kamil.

This development further underscores the legal complexities surrounding the 1MDB scandal and Najib Razak’s ongoing legal battles related to alleged financial mismanagement during his tenure as Prime Minister.