According to The Guardian, 1MDB is claiming USD 1.11 billion from Deutsche Bank (Malaysia), USD 800 million from JP Morgan (Switzerland), and USD 1.03 billion from a Switzerland-based Coutts unit, and interest payments from all of them.
The claims are premised on ‘negligence, breach of contract, conspiracy to defraud/injure, and/or dishonest assistance’, 1MDB said in the documents, filed at a Kuala Lumpur court in May 2021.
Malaysia’s finance ministry said on Monday that 1MDB and a former unit had filed 22 civil suits seeking to recover more than USD 23 billion in assets from entities and people allegedly involved in defrauding the fund and its ex-subsidiary.
Malaysian and US investigators say at least USD 4.5 billion was stolen from 1MDB between 2009 and 2014, in a scandal that has implicated high-level officials, banks, and financial institutions around the world.
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