The assets in question involve some US$115.3 million held in several Swiss bank accounts, including JP Morgan and UBS Switzerland, Berita Harian reported.

MACC chief commissioner Azam Baki confirmed the court filing, saying that the commission is committed to ensuring any proceeds derived from illegal activities are acted upon according to the law.

The application, filed yesterday, was made under Sections 56(1), 59, and 61(2) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001.

In October last year, the MACC said the Kuala Lumpur High Court had issued a restraining order to block three transactions amounting to some US$115.3 million, or about RM486.4 million (at the time), involving three bank accounts held by “Prince Turki Abdullah Abdulaziz Al-Saud”.

MACC had received information in 2011 that “Prince Turki Abdullah Abdulaziz Al-Saud” had allegedly received, transferred and used proceeds from misappropriated 1MDB funds through his bank accounts.