Govt seeks to forfeit ex-1MDB director’s assets

The government is seeking to forfeit cash amounting RM156,500, a car and properties belonging to former 1MDB executive director Casey Tang Keng Chee. – The Malaysian Insight file pic, September 30, 2022.

THE government is seeking to forfeit cash amounting RM156,500, a car and landed properties belonging to former executive director of 1Malaysia Development Bhd (1MDB) Casey Tang Keng Chee.

The cash of RM156,500 comprises Tang’s savings and current account balances at four banks – Maybank Islamic Bhd (RM89,300); CIMB Bank Bhd (RM13,000), RHB Bank Bhd (RM600) and AmBank Bhd (RM53,600).

The car is a Subaru XV2.01, which was seized in January last year.

The government is also looking to seize a bungalow in Bandar Kinrara and a shoplot in Bandar Puchong Jaya.

The government filed the forfeiture suit against Tang in November last year in accordance with subsection 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

Tang is listed as a wanted person by the Malaysian authorities and his whereabouts are unknown.

The notice in the gazette was issued on August 1 this year, inviting any third parties to appear in person or be represented by a counsel to contest the forfeiture action before a hearing.

This is for the third parties to show cause as to why the properties should not be forfeited by the government.

When the matter came up for case management before High Court judge Collin Lawrence Sequerah today, deputy public prosecutor Noor Zalizan Lazarous informed the court that the respondent (Tang) was unrepresented.

At this juncture, counsel Muhamad Al-Muazzim Azmi Amin, on behalf of Maybank Islamic, stood up and said that his client is seeking to claim part of the targeted asset.

The court then set October 12 for mention. – Bernama, September 30, 2022.

Sign up or sign in here to comment.