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The scandal-ridden state fund 1Malaysia Development (1MDB) has dropped its $1 billion civil lawsuit against its former law firm Wong & Partners and the head of its corporate practice, Brian Chia, over losses suffered by the fund, media reports said.
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Shearn Delamore is representing Malaysia's government and state fund 1Malaysia Development Berhad (1MDB) in a lawsuit seeking over $5.6 billion in damages from KPMG partners for alleged breaches and negligence linked to a corruption scandal at the fund.
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The U.S. Department of Justice (DOJ) has filed civil forfeiture proceedings against $330 million of assets held in escrow by Clyde & Co that the former says are related to the multibillion-dollar scandal surrounding Malaysian state fund 1Malaysia Development Berhad (1MDB).
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Malaysian authorities have filed money laundering charges against a British national who had worked for ex-prime minister Najib Razak as a media adviser, a prosecutor said on Thursday.
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Fugitive Malaysian businessman Jho Low, one of the main accused in the 1MDB scandal, has reportedly picked former New Jersey governor Chris Christie and U.S. law firm Kasowitz Benson Torres among the lawyers to represent him.
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Malaysian law firm Joseph & Partners is representing four plaintiffs in an application before Admiralty Court in Kuala Lumpur to sell the superyacht Equanimity, owned by businessman Jho Low, as part of efforts to recover assets related to the tainted state fund 1MDB.
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Najib Razak, the former prime minister of Malaysia, is reportedly instructing a number of high-profile U.S. lawyers as investigations into his alleged involvement in the 1Malaysia Development Bhd (1MDB) scandal intensify, including the law firm helmed by former U.S. Attorney-General John Ashcroft.
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1Malaysia Development Berhad (1MDB), the state fund at the heart of the corruption allegations against former prime minister Najib Razak, no longer has legal representation after its law firm relieved itself from acting for the company.