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1MDB files multibillion suits against Deutsche Bank, Coutts, JP Morgan, Wong & Partners and others


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). ....

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Putrajaya settles with Deloitte for RM324m in relation to 1MDB scandal


KUALA LUMPUR (March 3): Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz has confirmed that the Malaysian government has agreed to a settlement of US$80 million (RM324 million) with Deloitte PLT in relation to the 1Malaysia Development Bhd (1MDB) scandal.
He said the settlement served to resolve all claims related to their fiduciary duty on auditing the accounts of 1MDB and SRC International Sdn Bhd for the 2011-2014 period.
“This marks another success in the Malaysian government’s continuing recovery efforts against parties involved in 1MDB, SRC and its related entities. The Malaysian government is determined to ensure that appropriate actions are taken against all individuals or entities involved, directly or indirectly, in the global 1MDB scheme,” he said in a statement. ....

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