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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 ...
t. e. The 1Malaysia Development Berhad scandal, often referred to as the 1MDB scandal or just 1MDB, is an ongoing corruption, bribery and money laundering conspiracy in which the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB) was systematically embezzled, with assets diverted globally by the perpetrators of the scheme. [ 1]
BNP Paribas Malaysia Berhad. Bangkok Bank Berhad. Bank of America Malaysia Berhad. Bank of China (Malaysia) Berhad. Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad. China Construction Bank (Malaysia) Berhad [ 1] Citibank Berhad (Sold to UOB Group Malaysia) Deutsche Bank (Malaysia) Berhad. HSBC Bank Malaysia Berhad.
t. e. 1Malaysia Development Berhad ( 1MDB; Malay: [ˈsatu maˈlajʃa dɛˈvɛlɔpmɛn (t) bərˈɦad]) is an insolvent [ 1] Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated). [ 2][ 3] In 2015, the company became the subject of a major international corruption scandal, with evidence pointing to money ...
Deutsche Bank AG ( German pronunciation: [ˈdɔʏtʃə ˈbaŋk ʔaːˈɡeː] ⓘ) is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange . Deutsche Bank was founded in 1870 in Berlin.
HSBC Bank Malaysia Berhad was incorporated locally in Malaysia on 1 October 1984. It is part of the HSBC Group and is a wholly owned subsidiary of HSBC Holdings plc , headquartered in London. [ 1 ] The Group serves about 39 million customers worldwide from offices in 66 countries and territories in Europe, the Asia-Pacific region, the Americas ...
9. 1MDB invested or lent a total of US$1.83 billion to Petrosaudi International (PSI) Limited between 2009 and 2011 under the pretext of bogus projects or non-existent assets. Bank Negara Malaysia had demanded 1MDB return the above money to Malaysia as their approval was given based on misinformation submitted by 1MDB.
The 1Malaysia Development Berhad scandal is an ongoing political scandal in Malaysia, in which then-Prime Minister Najib Razak was accused of channeling over RM 2.67 billion (approximately US$700 million) into his personal bank accounts from 1Malaysia Development Berhad (1MDB), a government-run strategic development company.