close
Wednesday April 24, 2024

Malaysia’s scandal-hit 1MDB sues banks

By AFP
May 12, 2021

KUALA LUMPUR: Malaysian state fund 1MDB is suing units of Deutsche Bank, JPMorgan and Coutts, according to court documents, the latest effort to recover massive losses from the scandal-hit investment vehicle. Billions of dollars were looted from 1Malaysia Development Berhad in a globe-spanning fraud that involved former prime minister Najib Razak, and spent on everything from real estate to artwork.