Liquidator traced misappropriated 1MDB funds through 29 offshore entities, court told
A liquidator testified in a Malaysian court regarding the use of 29 offshore entities to misappropriate funds from the 1MDB state investment fund. The testimony highlights the complex financial networks allegedly used by Jho Low and others to launder billions of dollars.
Why it matters
This case is a landmark in international financial crime and asset recovery, involving massive sums of public money and high-profile political figures.
1MDB is seeking to recover about US$5.64 billion from former prime minister Najib Razak and several other individuals, alleging that the funds were misappropriated.
KUALA LUMPUR: Offshore asset recovery specialist Angela Barkhouse told the High Court here today she had been appointed by various courts as liquidator for 29 offshore entities allegedly used as intermediaries to misappropriate funds from 1MDB.
Barkhouse, the third witness in the US$5.64 billion 1MDB civil suit against former prime minister Najib Razak, said the appointments were made between July 2021 and May 2025.
The entities included 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, and Platinum Global Luxury Services Ltd.
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