Malaysian investment fund 1MDB sues global firms in effort to recoup $23 billion

May 10, 2021 | INVESTING

Malaysian state-owned investment fund 1MDB and a former unit have filed a combined 22 civil suits against entities and individuals for the recovery of assets worth more than US$23 billion.1MDB, whose full name is 1Malaysia Development Berhad, filed six suits against nine entities, including two foreign financial institutions, and 25 individuals for various wrongdoings including fraud and conspiracy to defraud the fund, the Finance Ministry said in a statement on Monday.SRC International Sdn…

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