KUALA TERENGGANU: A member of the Terengganu royal family has filed a lawsuit against two banks to recover RM1.985 million in savings allegedly lost through a series of unauthorised transactions between Sept and Dec last year.
Tengku Ismail Tengku Ibrahim, 65, claimed he discovered the loss in early January when he checked his accounts and found balances of just RM73 and RM99.
Tengku Ismail claimed he discovered the missing funds when he checked his accounts at a bank counter in early January, finding that one bank account had a balance of about RM73, while another account contained approximately RM99.
He believed the money was withdrawn in small amounts through repeated transactions until almost all his savings had disappeared.
He claimed that after discovering the loss, he sought an explanation from bank counter staff, but the answers provided were unsatisfactory and failed to explain how the money could have been transferred out of his accounts.
"I then appointed a lawyer to send formal letters to both banks seeking further clarification on the transactions.
"However, to this day, I have yet to receive an explanation that answers how the money could have been withdrawn from my accounts," he told reporters outside the Kuala Terengganu Court Complex.
Tengku Ismail claimed he was also informed that police have arrested several individuals believed to be linked to the recipient accounts used in the transactions.
Meanwhile, his lawyer, Alif Danial Ahmad Shahrulnizam, said the disputed transactions were believed to have occurred in stages between Sept and Dec last year, with total losses amounting to RM1,985,065.
He said the transactions involving one account were believed to have taken place between Sept and Oct 2025, while those involving the other bank began around Sept that year.
He said his team had previously contacted both banks to seek clarification but decided to proceed with legal action after failing to receive satisfactory responses.
The writs of summons against both banks were served on Oct 8. Case management has been set for Oct 14 and Oct 19, respectively.
Alif Danial said the claims include the recovery of the funds, as well as other related damages.
He said the substantial financial loss had affected his elderly client, causing him anxiety and trauma.
He added that police were also investigating the case and that his team are awaiting further developments.
"We want our client's money returned and an explanation of how these transactions could have occurred.
"However, the allegations of negligence in the handling of the transactions must be proven through court proceedings," he said.
Mohd Hazwan Hamidun of Messrs Rafaei & Co also represents the plaintiff.
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