Deloitte to pay Malaysia $80 million to settle claims linked to 1MDB
Audit firm Deloitte PLT will pay Malaysia's government $80 million to resolve all claims related to its auditing of accounts of scandal-linked state fund 1MDB and its unit SRC International from 2011 to 2014, the finance ministry said on Wednesday. Deloitte has been under scrutiny for its role in auditing the financial statements of 1Malaysia Development Berhad (1MDB), a state fund at the centre of a globe-spanning corruption scandal. Malaysian and U.S. authorities say at least $4.5 billion was stolen from 1MDB between 2009 and 2014 by high-level officials of the fund and their associates. ...
Source: business-standard.com