State fund trying to recover billions in alleged losses from corruption scandal, according to court filings
Malaysia’s now-defunct 1MDB state fund is suing subsidiaries of Deutsche Bank, JP Morgan and Coutts & Co to recover billions in alleged losses from a corruption scandal at the fund, according to court documents seen by Reuters.
1MDB is claiming $1.11bn (£785bn) from Deutsche Bank (Malaysia) Bhd, $800m from JP Morgan (Switzerland) Ltd and $1.03bn from a Swiss-based Coutts unit, and interest payments from all of them, according to the lawsuit.
