Malaysian court bars $340M access to PetroSaudi and its CEO tied to 1MDB scandal.
A Malaysian court has barred PetroSaudi International and its CEO, Tarek Obaid, from accessing nearly $340 million linked to the 1MDB financial scandal. The court granted the government's request, finding evidence that the funds are connected to money laundering. Obaid was sentenced to seven years in prison in Switzerland for embezzling $1.8 billion from 1MDB. The scandal has led to criminal investigations globally and contributed to the downfall of Najib Razak's government in 2018.
3 months ago
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