1MDB Civil Suit: Liquidator Traces US$5.6 Billion Fraud Through 29 Offshore Entities

A liquidator appointed by multiple courts traced misappropriated 1MDB funds through 29 offshore entities used as intermediaries, according to testimony provided to the High Court in Kuala Lumpur, as reported by Malaysians Must Know The Truth. Angela Barkhouse, managing director of Kroll (Cayman) Ltd, testified as the third witness in a US$5.64 billion civil suit filed by the sovereign wealth fund against former Prime Minister Najib Razak and several other individuals.

The civil action seeks the recovery of approximately US$5.64 billion. The suit was filed on May 7, 2021, by 1MDB and four of its subsidiaries: 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd, and Global Diversified Investment Company Ltd, according to reports from Free Malaysia Today and Malaysians Must Know The Truth.

Tracing of 1MDB Funds Through Offshore Entities

Barkhouse told the court she was appointed as a liquidator for 29 offshore entities between July 2021 and May 2025. She stated that her analysis allowed her team to trace funds allegedly misappropriated from 1MDB through a complex network of entities associated with those involved in the fraud, according to Free Malaysia Today.

The entities identified in the proceedings include:

• Lucetta Investments Ltd
• PetroSaudi Oil Services Ltd
• TKIL Global Investments Ltd
• PetroSaudi International
• Aabar International Investments PJS Ltd
• Alsen Chance Holdings Ltd
• Blackrock Commodities (Global) Ltd
• Platinum Global Luxury Services Ltd

Barkhouse testified that her investigations are ongoing. She stated she continues to analyze information on behalf of the liquidated estates to pursue claims against parties alleged to have facilitated the movement or laundering of the funds, as reported by Free Malaysia Today.

Testimony on Jho Low and Najib Razak

During cross-examination by Najib’s lead counsel, Shafee Abdullah, Barkhouse acknowledged that fugitive financier Low Taek Jho, known as Jho Low, was among the figures at the center of the 1MDB controversy. When asked if Jho Low was the main person behind the alleged conspiracy, Barkhouse said she was uncertain, noting her focus remained on those who received the misappropriated funds, according to Free Malaysia Today.

Separate reports from Malaysiakini and The Star indicate that other witness testimony in the proceedings confirmed Najib Razak received 1MDB funds, though the witness expressed uncertainty regarding whether Jho Low was the “number one” figure in the scheme.

Defendants and Legal Proceedings

The civil suit names several former 1MDB executives alongside Najib Razak. According to Free Malaysia Today, the defendants include:

• Nik Faisal Ariff Kamil, former CEO
• Casey Tang, former executive director of business development
• Terence Geh, former deputy chief financial officer
• Vincent Beng, former chief investment officer
• Radhi Mohamad, former chief operating officer
• Kelvin Tan, former director of investments

Lim Chee Wee is leading the legal team for 1MDB. In a related development reported by The Edge Malaysia, the court struck out portions of a witness statement provided by Tony Pua in the civil suit, ruling those sections as opinion or hearsay.

The hearing is being presided over by Judicial Commissioner Redzuan Idrus.