LDP can keep RM500,000 in its bank account
The government will return RM500,000 plus interest to Liberal Democratic Party (LDP), while retaining a sum of RM9,560.96 from the party’s Maybank account which was frozen last year by Malaysian Anti-Corruption Commission’s (MACC).
The government will return RM500,000 plus interest to Liberal Democratic Party (LDP), while retaining a sum of RM9,560.96 from the party’s Maybank account which was frozen last year due to the Malaysian AntiCorruption Commission’s (MACC) bid to recover funds linked to 1Malaysia Development Berhad (1MDB).
Additionally, the freeze order on LDP’s bank account since June last year has been officially lifted.
This follows a consent judgement recorded before Kuala Lumpur High Court judge Collin Lawrence Sequerah here yesterday (October 18).
During the proceeding, deputy public prosecutor Nik Haslinie Hashim from MACC told the court that the prosecution had accepted the representation from the respondent on the terms agreed to by both sides.
“I request for a consent order to be recorded according to the terms agreed,” she asked of the court.
The judge subsequently recorded the consent judgement, although the terms of settlement were not disclosed to the open court.
According to the consent judgement draft, the prosecution agreed to duly lift the seizure of movable property order upon recovering the RM9,560.96 from RM509,560.96 in a current account that was frozen on June 29, 2018.
In June, MACC has filed suits to forfeit RM270 million from 41 entities, including LDP, whose funds were believed to have come from 1MDB.
In its bid to recover the funds, MACC had frozen LDP’s Maybank account on June 29, 2018, which then recorded a sum of RM509,560.96.
The party, through its lawyers Datuk Jagjit Singh Bant Singh, Wan Muhd Ariff Ameer and Kamal Baharin B. Nali, filed an affidavit explaining the source of the RM509,560.96 in its bank account.
During case management of the legal action yesterday, MACC and LDP have submitted a consent judgment where both parties agreed that only RM9,560.96 would be retained by the government.
MACC has also agreed to lift the freeze order on LDP’s Maybank account that was imposed on June 29 last year.
This means that the government will return RM500,000 plus interest to the party.
LDP president Datuk Chin Su Phin was pleased the freeze order on the party’s bank account was finally lifted.
He said the affidavit clearly showed that the money left in the bank account was unrelated to 1MDB.
“We are happy that the High Court and MACC accepted our explanation.
“The case has finally come to a satisfactory end.”
Also present was LDP secretary general Senator Datuk Yong Wui Chung.