MP SPEAKS | Where’s 1MDB suit against former auditor KPMG?
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MP SPEAKS | Yesterday, 1MDB and its former subsidiary, SRC International Sdn Bhd filed a total of 21 suits against various parties, including former prime minister Najib Abdul Razak, former 1MDB office bearers like Che Lodin Wok Kamaruddin, and former chief executive officers (CEOs) of 1MDB Shahrol Azral Ibrahim Halmi, Arul Kanda Kandasamy and Mohd Hazem Abdul Rahman.
Also named in the suits are fugitive businessperson Low Taek Jho (Jho Low), his father Larry Low Hock Peng, sister Low May Lin and Jho Low s close associate Eric Tan Kim Loong.
KUALA LUMPUR (May 11): Opposition lawmaker Tony Pua said today the Malaysian government should be applauded for filing more than 20 civil suits to recover losses suffered by 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd.
However, conspicuously missing from the list of suits is a case against KPMG Malaysia, which audited 1MDB s financials for three years from March 2010 to March 2012, Pua said in a statement today. Where is the 1MDB suit against its former auditor KPMG ?” said Pua, who is DAP s national publicity secretary.
Pua’s statement today followed the Ministry of Finance’s (MoF) statement yesterday that in the government s continuing efforts to recover losses suffered by 1MDB and SRC, the ministry confirmed that last Friday, legal representatives of both entities filed a combined total of 22 civil suits.
KUALA LUMPUR (May 10): 1Malaysia Development Bhd (1MDB) has filed a total of six separate suits, including against foreign banks Deutsche Bank, JP Morgan and Coutts & Co.
Also sued are individuals including former prime minister Datuk Seri Najib Razak, former Treasury secretary-general Tan Sri Mohd Irwan Serigar, as well as former 1MDB chief executive officers (CEOs) Datuk Shahrol Ibrahim Halmi and Arul Kanda Kandasamy, among others.
One of the six suits filed is against Deutsche Bank (Malaysia) Ltd, Coutts & Co Ltd, JP Morgan (Switzerland) Ltd and two PetroSaudi companies for alleged negligence, breach of contract, conspiracy to defraud the company and dishonest assistance to defraud to the total amount of US$4.923 billion (about RM20.22 billion).
The Straits Times
Malaysia claims over $31.4 billion from those who allegedly defrauded state investment firm 1MDB
Nearly 40 individuals, including former premier Najib Razak, and 17 entities were among those named in the suits.PHOTOS: AFP, REUTERS
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PETALING JAYA: Three law firms filed a total of 21 suits on behalf of 1Malaysia Development Bhd (1MDB) and its subsidiary SRC International Sdn Bhd as the two entities seek to regain over US$23bil (RM94.5bil) in funds from entities who allegedly siphoned it from them.
The suits were filed by Rosli Dahlan Saravana Partnership, Skrine & Co and Lim Chee Wee Partnership on Friday (May 7) at the Kuala Lumpur High Court and the Shah Alam Sessions Court.
Among the plaintiffs in the suits include 1MDB subsidiaries such as 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd, formerly known as 1MDB Global Investments Ltd.