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KUALA LUMPUR (Reuters) - Malaysia s now-defunct 1MDB state fund is suing units of Deutsche Bank, J.P. Morgan and Coutts & Co to recover billions in alleged losses from a corruption scandal at the fund, court documents seen by Reuters showed.
1MDB is claiming $1.11 billion from Deutsche Bank (Malaysia) Bhd, $800 million from J.P. Morgan (Switzerland) Ltd and $1.03 billion from a Swiss-based Coutts unit, and interest payments from all of them, according to the lawsuit.
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 on Friday.
MH370 pilot left ‘false trails’ to avoid detection before plane disappeared killing all 239 on board
Updated: 5 May 2021, 15:25
THE PILOT of the doomed MH370 left false trails to avoid detection before the plane disappeared killing all 239 on board, it has been claimed.
The theory that the captain made a series of zig-zagging movements to throw off air traffic teams and evade radar systems comes seven years after the Malaysian Airlines Boeing 777 suddenly vanished - sparking the world s greatest aviation mystery.
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According to aerospace engineer Richard Godfrey - who has spent years investigating the flight’s 2014 disappearance - the pilot made a number of deliberate turns and speed changes to avoid detection before plunging into the Indian Ocean.
Malaysia s 1MDB corruption trial postponed due to Covid
By IANS |
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KUALA LUMPUR, Aug. 27, 2019 (Xinhua) Former Malaysian Prime Minister Najib Razak arrives at a court in Kuala Lumpur, Malaysia, Aug. 27, 2019. The prosecution wrapped up its submission on Tuesday against former Malaysian Prime Minister Najib Razak . Image Source: IANS News
Kuala Lumpur, May 3 : Court hearings related to the multi-billion dollar corruption allegations involving former Malaysian Prime Minister Najib Razak have been postponed again due to coronavirus concerns.
Najib, who was due in court on Monday for one of several trials related to his 2009-18 tenure as Prime Minister, is accused of stealing around $700 million from 1MDB, a state fund he helped establish, reports dpa news agency.