PETROSAUDI International Ltd director Tarek Obaid had absolute control over the company’s accounts and purportedly caused US$120 million from 1MDB and a PSI joint venture company to be transferred into an escrow account, the KL High Court hears. – The Malaysian Insight file pic, December 6, 2021.
THE Kuala Lumpur High Court was today told that Petrosaudi International Ltd director Tarek Obaid had absolute control over the company’s accounts and purportedly caused US$120 million from 1Malaysia Development Bhd and a PSI joint venture company to be transferred into an escrow account. Deputy public prosecutor Budiman Lutfi Mohamed submitted that Obaid, at all material times, had ultimate control of Petrosaudi’s accounts, including transfers of the funds, as he was the authorised signatory for these accounts.
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