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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.