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United States of America v. All Funds Held in Escrow by Clyde and Co. In The United Kingdom as Damages or Restitution in Petrosaudi v. PDVSA Uncitral Arbitration

  1. November 16, 2021

    Feds Look To Freeze Award Over PetroSaudi Fraud

    The U.S. government wants to block a PetroSaudi unit from receiving payments from a $380 million arbitral award fund, arguing that the company has been collecting $1 million per month since March and must be stopped.

  2. October 15, 2021

    Calif. Court OKs Warrant For PetroSaudi Arbitral Win

    The U.S. Department of Justice finally secured a warrant for portions of a PetroSaudi unit's $380 million arbitration award that federal prosecutors say is linked to $1 billion allegedly stolen from Malaysia's sovereign wealth fund.

  3. August 19, 2021

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

    U.S. government officials say they have shown a clear connection between the perpetrator of a $1 billion 1MDB fraud, his companies, and the proceeds of a Venezuelan drilling project, warranting the seizure of a $380 million arbitral award.

  4. August 05, 2021

    US Says $1.2B Looted In 1MDB Scandal Has Been Returned

    The U.S. government said Thursday it has returned $452 million stolen from Malaysia's sovereign wealth fund and squirreled away in luxury homes, fine art and a super yacht, bringing the total repatriated in the wake of the 1Malaysia Development Berhad scandal to more than $1.2 billion.

  5. August 04, 2021

    PetroSaudi Unit Says US Still Can't Seize $380M Award

    A PetroSaudi unit is urging a California judge to dismiss for good the U.S. government's attempt to seize a nearly $380 million arbitral award it claims is tied to embezzled 1Malaysia Development Berhad funds, arguing that prosecutors still can't connect the award to the scandal.

  6. June 04, 2021

    US Prosecutors Still Can't Seize Alleged 1MDB Funds

    U.S. prosecutors have again come up short in their bid to seize some $329 million allegedly connected to embezzled 1Malaysia Development Berhad funds after a judge in California ruled on Friday that the government hadn't sufficiently shown how the money was tied to the conspiracy.

  7. May 19, 2021

    PetroSaudi Slams 'Overbroad' Bid For Piece Of $330M Award

    PetroSaudi urged a California federal judge to reject federal prosecutors' proposed warrant to seize funds allegedly tied to the 1MDB scandal, saying Wednesday the "overbroad" warrant would leave the U.S. court "fundamentally and untenably at odds" with a London court.

  8. May 03, 2021

    Feds Stand By 1MDB Link In $330M PetroSaudi Forfeiture Suit

    U.S. prosecutors urged a California federal judge not to dismiss the Department of Justice's $330 million forfeiture suit against PetroSaudi, arguing Friday that the DOJ has successfully connected the arbitral award to the 1MDB scandal.

  9. April 27, 2021

    US Wants $330M Held By Clyde & Co. In 1MDB Funds Fight

    U.S. prosecutors urged a California federal judge to let the country seize $330 million allegedly connected to embezzled 1Malaysia Development Berhad funds owed to PetroSaudi, arguing that sovereign immunity and U.S. jurisdiction limits are irrelevant in this case.

  10. April 21, 2021

    PetroSaudi Seeks Final Ax To Feds' $330M Forfeiture Suit

    PetroSaudi urged a California federal court to permanently end a $330 million U.S. Department of Justice forfeiture suit, slamming the action as a "bloated" and "confusing" attempt to connect its arbitral award to the 1MDB scandal.

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