Standard Charterd Bank has achieved a bank worth $ 27,000,000 on the alleged role in fraud on the Malaysian sovereign wealth fund
According to the Singapore arm in Standard Charterren, the liquidators sued the allegations that the British banking giant enabled fraud that caused the losses of more than $ 2.7 billion.
These allegations are linked to the conspiracy of embezzlement of $ 4.5 billion against the Malaysia Development Berhard Sovereign Wealth Fund, known as the 1MDB scandal, which started in 2009.
Standard Charterf a report.
Candidates from the Kroll Financial Service giant submitted the case, claiming that the British Bank enabled the fraud process 1MDB.
Standard Charterd is allegedly ignoring the red flags and treating more than 100 transport within the bank between 2009 and 2013, which contributed to hiding 1MDB boxes, according to three companies in the liquidation related to the scandal.
Explain the lines,
“According to this lawsuit, transportation operations show serious violations and control failures that eventually enabled the theft of public funds by people working at the highest levels of the Malaysian government during that period.”
Standard Chartered Reuters told Reuters that any claims made by companies “without an advantage.”
Earlier this year, former Goldman Sachs employee Tim Lesnar was sentenced to two years in prison behind bars to play his role in stealing millions of dollars.
Prosecutors say that Lesnar and others who worked in the banking giant helped Malaysia to raise $ 6.5 billion to the country’s investment fund through bond sales.
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