MACC Seeks Forfeiture of Prince Turki’s Assets Linked to 1MDB Funds
The Malaysian Anti-Corruption Commission (MACC) has filed a court application to seize movable assets located abroad belonging to Prince Turki Abdullah Abdulaziz Al-Saud, reportedly involving approximately US$115.3 million held in several Swiss bank accounts. The move comes as part of ongoing efforts to recover funds allegedly misappropriated from 1Malaysia Development Berhad (1MDB).
MACC Chief Commissioner Tan Sri Azam Baki confirmed the court filing on Sunday, February 15, 2026, stating the commission is committed to ensuring any proceeds derived from illegal activities are dealt with according to the law. The application was filed under Sections 56(1), 59, and 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
The assets in question are held in accounts at J.P. Morgan (Suisse) SA and UBS Switzerland AG, according to reports. This latest action builds upon a restraining order issued by the Kuala Lumpur High Court in October 2026, which blocked three transactions totaling US$115.3 million involving the same bank accounts held by Prince Turki.
The MACC initially received information in 2011 alleging that Prince Turki Abdullah Abdulaziz Al-Saud had received, transferred, and used proceeds from the misappropriation of 1MDB funds through his bank accounts. The current forfeiture application represents a significant step in the Malaysian government’s continued pursuit of assets linked to the 1MDB scandal.
The US$115.3 million figure translates to approximately RM450,534,585.12, based on current exchange rates. The MACC’s efforts to recover these funds underscore its dedication to combating financial crime and ensuring accountability for those involved in the alleged misappropriation of 1MDB funds.
This development follows years of investigations into the 1MDB scandal, which has implicated high-ranking officials and individuals across multiple countries. The recovery of these assets, if successful, would represent a substantial win for Malaysia in its efforts to recoup losses stemming from the alleged fraud.
The MACC has been actively working to trace and recover assets linked to 1MDB, both domestically and internationally. This latest move to seize Prince Turki’s foreign assets demonstrates the commission’s commitment to pursuing all available avenues to recover stolen funds and bring those responsible to justice.