1MDB Case Hits Setback as Judge Rules Against U.S. Justice Department
- Petrosaudi wins dismissal of $325 million forfeiture request
- U.S., Malaysia argue Petrosaudi funds tied to money-laundering
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A U.S. judge rejected the Justice Department’s attempts to seize $325 million from an oil exploration joint-venture linked to the 1MDB scandal, in a setback for federal prosecutors in a multibillion dollar kleptocracy case.
The U.S. ruling emerged at a London court hearing this week where Petrosaudi Oil Services (Venezuela) Ltd. is battling to win release of hundreds of millions of dollars at the heart of the case.