Malaysia Sued JP Morgan and Deutsche Bank!

Malaysia sued JP Morgan and Deutsche Bank! The lawsuit filed by the Malaysian Wealth Fund 1MDB was due to corruption worth $ 23 billion.

In the statement made by the Ministry of Finance of Malaysia, it was reported that 9 organizations, including 25 persons and 2 foreign institutions, were filed for crimes such as fraud and breach of contract. It was reported that SRC, the former unit of the Fund, filed a total of 16 lawsuits for the same crimes. Sources with information on the subject stated that these foreign institutions are JP Morgan and Deutsche Bank.

JP Morgan and Deutsche Bank have not made any statements yet.

Malaysia occupied the agenda of the financial world, claiming that people associated with the former Prime Minister were embezzling billions of dollars from funds. Authorities had revealed that the money was invested in real estate, yachts and artworks around the world.     Source: Bloomberg HT