1MDB has filed a total of five separate suits on May 8 against the likes of Deutsche Bank, JPMorgan, Coutts & Co, as well as individuals including Datuk Seri Najib Razak (pic) and Tan Sri Mohd Irwan Serigar. — Picture by Shafwan Zaidon
Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, May 10 — Three law firms on Friday filed a total of 21 suits on behalf of 1Malaysia Development Bhd (1MDB) and its subsidiary SRC International Sdn Bhd against companies and individuals they have accused of being complicit in fraud against the duo.
In a report by The Edge, both 1MDB and SRC are seeking a total of US$23 billion (RM94.43 billion) and another RM300 million against those alleged domestic recipients of siphoned funds from both companies and its subsidiaries.
The firms of Rosli Dahlan Saravana Partnership (RDS), Skrine & Co, and Lim Chee Wee Partnership filed the suits last Friday in the High Court in Kuala Lumpur and the Sessions Court in Shah Alam.
According to The Edge, 1MDB has filed a total of five separate suits on May 8, including against foreign banks Deutsche Bank, JPMorgan and Coutts & Co as well as individuals including former prime minister Datuk Seri Najib Razak, former Treasury secretary-general Tan Sri Mohd Irwan Serigar.
Others named are former 1MDB office bearers like Tan Sri Che Lodin Wok Kamaruddin, and former chief executive officers (CEOs) of 1MDB Datuk Shahrol Azral Ibrahim Halmi, Arul Kanda Kandasamy and Mohd Hazem Abdul Rahman.
One of the suits also targeted fugitive businessman Low Taek Jho (Jho Low), his father Tan Sri Low Hock Peng, sister Low May Lin and accomplice Eric Tan Kim Loong from whom 1MDB is seeking a total of US$1.402 billion (RM5.76 billion).
For the companies, 1MDB filed suits regarding breach of contract, conspiracy to defraud the company and dishonest assistance to defraud the total amount of US$4.923 billion (RM20.22 billion).
MORE TO COME