US Prosecutors Still Can't Seize Alleged 1MDB Funds

Law360 (June 4, 2021, 10:08 PM EDT) -- 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.

U.S. District Judge Dale S. Fischer said that prosecutors hadn't given her enough evidence to definitively prove that any of the $300 million in 1MDB funds that were contributed to a joint venture with PetroSaudi had gone to fund the purchase of a drillship that led to a roughly $380 million arbitral award to PetroSaudi Oil...

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