Feds Fight Bid To Toss $330M 1MDB Forfeiture Suit

Law360 (January 12, 2021, 6:13 PM EST) -- Prosecutors seeking to seize another $330 million in assets allegedly connected to embezzled 1Malaysia Development Bhd. funds, including money tied up in arbitration proceedings between Saudi and Venezuelan oil companies, urged a California federal judge not to toss the case, saying the complaint sufficiently alleges the funds are crime-related.

The U.S. Department of Justice has argued that it can seize some $330 million held in escrow by Clyde & Co. in Britain. (AP Photo/Patrick Semansky) The U.S. Department of Justice argued Monday that it can seize about $330 million held in escrow by law firm Clyde & Co. in the United...

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