The High Court in Shah Alam dismissed the prosecution's attempt to forfeit RM21 million in funds, including US$139,650.68 and a 1-kilogram gold bar, all frozen under Aman Palestin Bhd's name on August 24, 2026 [1, 2, 3]. The application involved assets in 12 bank accounts as well as the seized gold bar [1, 2, 3].
Prosecutors had filed the forfeiture application on November 15, 2024, under Section 56(1) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) [1, 2, 3].
Judge Datuk Seri Latifah Mohd Tahar ruled the prosecution failed to prove the money and gold bar were proceeds of unlawful activities or involved in any offence. She said, "In conclusion, the court finds that the applicant failed to prove that the money found in the respondent's bank accounts, as well as the purchase of the gold bar, constituted wrongful acts under Section 4(1) of AMLATFPUAA or proceeds from unlawful activities" [2].
The judge added if any misappropriation or breach of fiduciary duty occurred when the funds were withdrawn for investments, legal responsibility lies with the individual directors, not Aman Palestin as an organisation [1]. She stated, "If there were indeed misappropriation and breaches of fiduciary duty committed by the company's directors when the money was withdrawn for investments, the legal liability lies with the individuals and should not involve the respondent" [1].
On February 15, 2024, three individuals including Aman Palestin’s then executive chairman and CEO were charged in Sessions Court with 164 counts of criminal breach of trust, cheating, and money laundering involving tens of millions of ringgit over the period 2018 to 2023 [1, 2, 3]. The accused are Abdullah Zaik Abdul Rahman (60), Awang Suffian Awang Piut (54), and investment company director Khairudin Mohd Ali (51), all of whom pleaded not guilty [2, 3].
Following the High Court ruling, the prosecution applied for a stay of execution of the forfeiture order pending appeal. The court has set a mention for this application on September 4, 2026 [1, 2, 3].
