Court dismisses bid to forfeit RM114m in 1MDB-linked cash

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The Kuala Lumpur High Court today dismissed a forfeiture suit targeting RM114 million allegedly linked to 1MDB as the prosecution failed to prove that the money may have been laundered from the state fund.The funds were part of RM680 million in cash, jewellery and other assets seized from condo units in Pavilion Residences, Kuala Lumpur, owned by Obyu Holdings Sdn Bhd, in 2018.Obyu is the sole respondent in the government’s main 1MDB-linked forfeiture suit. However, Umno and its former president Najib Abdul Razak are third party claimants seeking the return of the RM114 million, which is currently in Bank Negara’s custody.Today’s order is only in relation to the RM114 million rather than the rest of the RM680 million in seized assets. Those are still pending further hearing in future.Judge Muhammad Jamil Hussin did not make any consequential order in his oral ruling on whether…