Malaysia seeks court order to forfeit $115m in Swiss accounts held under Saudi prince’s name
Malaysia’s anti-corruption authorities applied on Sunday to forfeit more than US$115m held in Swiss bank accounts under the name of a Saudi royal, in what officials describe as part of ongoing efforts to recover funds allegedly linked to the multibillion-dollar 1MDB scandal.
The Malaysian Anti-Corruption Commission (MACC) filed the application on Sunday, 15 February 2026, seeking a forfeiture order over overseas assets amounting to US$115,320,661.63, according to Malaysia’s national news agency Bernama.
The assets are held in Swiss bank accounts under the name of Prince Turki Abdullah Al-Saud. Malaysian authorities are seeking to seize the funds under provisions of the country’s Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.
MACC chief commissioner Azam Baki confirmed that the application had been submitted but did not elaborate on the procedural timetable or potential enforcement steps in Switzerland.
The move follows an earlier order obtained in October 2025 from the Kuala Lumpur High Court, which granted a restraining order prohibiting transactions involving the same overall sum across three Swiss accounts. At the time, the MACC said the action was based on information received in 2011 alleging that the account holder had received, transferred and used funds believed to be traceable to the misappropriation of monies from 1Malaysia Development Berhad, widely known as 1MDB.
According to earlier statements cited by state media, the restrained funds were held in accounts with J.P. Morgan (Suisse) SA and UBS Switzerland AG.
The 1MDB affair, which erupted more than a decade ago, triggered investigations across several jurisdictions including the United States, Switzerland and Singapore. Malaysian authorities have since sought to recover billions of dollars they say were siphoned from the state investment fund through a complex web of international transactions.
The current application is understood to be a civil forfeiture proceeding rather than a criminal prosecution. Under Malaysian law, such applications allow authorities to seek the seizure of assets alleged to be proceeds of unlawful activity, subject to court approval.
It was not immediately clear what legal avenues Malaysia may pursue to enforce any forfeiture order in Switzerland, or how long the process could take. There was no immediate public response from Prince Turki or representatives acting on his behalf.
The latest step underscores Kuala Lumpur’s continued effort to demonstrate progress in asset recovery linked to 1MDB, a case that reshaped Malaysia’s political landscape and remains central to the country’s anti-corruption agenda.