US Says $380M Is Fair Game In 1MDB Case

By Clark Mindock (May 27, 2022, 9:32 PM EDT) -- The U.S. government on Friday told the Ninth Circuit it should uphold a ruling allowing American prosecutors to seize a nearly $380 million arbitral award, telling the appeals court the opposition has argued itself out of court.

The government told the court that PetroSaudi Oil Services (Venezuela) Ltd. can't keep the funds allegedly tied to embezzled 1Malaysia Development Bhd. money out of American hands anymore, arguing a key point raised by PetroSaudi has now vanished.

That key issue related to the funds being in the possession of a U.K. court, which PetroSaudi had argued meant the Biden administration was barred from...

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