As a cornerstone of global finance, JPMorgan will pay the Malaysian government 330 million dollars as part of a settlement to resolve all matters related to its role in the 1Malaysia Development Berhad (1MDB) state fund scandal, one of the largest financial frauds in history.
“The settlement resolves all existing and potential claims and binds both parties from any future claims or litigation related to 1MDB,” reads a joint press-release.
Under the agreement, the bank – “without admission of liability” – will pay the sum into the Malaysian Assets Recovery Trust Account.
Each party will withdraw all pending appeals related to the lawsuit previously filed by 1MDB against JPMorgan’s branch at the Malaysian High Court, the statement emphasized.
The accord came on the same day that Switzerland’s Office of the Attorney General convicted JPMorgan’s Swiss branch for “failing to take all reasonable and necessary organizational measures to prevent aggravated money laundering” in the 1MDB case. (Redazione)
vedi