Malaysia seeks to seize Saudi prince’s overseas assets worth US$115 million
South China Morning Post
by The StarFebruary 15, 2026
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Malaysia’s Anti-Corruption Commission (MACC) has taken legal action to seize overseas assets worth approximately US$115 million belonging to Prince Turki Abdullah Al Saud, a senior Saudi Arabian royal. The assets, held in Swiss bank accounts linked to JP Morgan (Suisse) and UBS Switzerland, are suspected to be proceeds of corruption tied to the 1Malaysia Development Berhad (1MDB) scandal. MACC chief Azam Baki confirmed the court application, which was filed under specific sections of Malaysia’s Anti-Money-Laundering Act, including Sections 56(1), 59, and 61(2). This marks a significant step in the ongoing international efforts to追讨 illicit funds tied to one of Southeast Asia’s most high-profile corruption cases.
The assets were previously frozen by MACC in October 2023 following an investigation that began in 2011. At the time, the commission alleged that Prince Turki had received and mismanaged proceeds from the embezzlement of funds from 1MDB, a state-owned investment fund established by former Prime Minister Najib Razak. The prince has consistently denied any wrongdoing, and his legal team has yet to respond to the latest forfeiture application. This case highlights the challenges faced by authorities in recovering stolen assets held in offshore accounts, particularly those tied to influential individuals.
The 1MDB scandal has become a global emblem of corruption, with billions of dollars siphoned from the fund between 2009 and 2018. The money was allegedly used to finance luxury purchases, including real estate, art, and yachts for prominent figures linked to Najib Razak and his associates. Prince Turki is one of several high-profile individuals implicated in the case, with earlier recoveries targeting assets held by former Goldman Sachs banker Reza Azaruddin and Malaysian financier Low Taek Joon.
This latest legal move underscores Malaysia’s commitment to addressing corruption on an international scale. The seizure of Prince Turki’s Swiss assets not only demonstrates the persistence of MACC
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Originally published on South China Morning Post on 2/15/2026