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Malaysia s Scandal-hit 1MDB Sues Banks 05/11/21 AT 7:23 AM Malaysian state fund 1MDB is suing units of Deutsche Bank, JPMorgan and Coutts, according to court documents, the latest effort to recover massive losses from the scandal-hit investment vehicle. Billions of dollars were looted from 1Malaysia Development Berhad in a globe-spanning fraud that involved former prime minister Najib Razak, and spent on everything from real estate to artwork. The scandal played a large part in Najib s long-ruling coalition losing power in 2018, and authorities have since been trying to claw back money looted from state coffers. 1MDB is suing Deutsche Bank (Malaysia) for $1.11 billion, JPMorgan (Switzerland) for $800 million and a Swiss-based unit of Coutts for $1.03 billion, according to documents filed at Kuala Lumpur High Court on Friday.

Kuala lumpurNajib razakDeutsche bank malaysiaKuala lumpur high court onGoldman sachsMalaysia development berhadDeutsche bankDevelopment berhadKuala lumpur high courtகுவாலா லம்பூர்நஜிப் ர்யாஸக்டாய்ச் வங்கி மலேசியாகுவாலா லம்பூர் உயர் நீதிமன்றம் ஆன்கோல்ட்மேன் சாக்ஸ்டாய்ச் வங்கிகுவாலா லம்பூர் உயர் நீதிமன்றம்