KUALA LUMPUR, June 2 — A Singapore High Court has permitted 1Malaysia Development Berhad (1MDB) and its subsidiary Brazen Sky Limited to pursue a US$394 million (RM1.68 billion) claim against BSI Bank for alleged misconduct in the global 1MDB scandal. The court dismissed BSI’s attempt to strike out the lawsuit, reinforcing accountability for financial institutions. 1MDB accuses BSI of facilitating illegal fund transfers and money laundering. The ruling supports Malaysia’s efforts to recover billions lost to corruption. BSI, now in liquidation, must cover 1MDB’s legal costs. Swiss authorities have also convicted BSI for related money laundering.
Singapore Court Allows 1MDB’s $394M Claim Against BSI Bank to Proceed
Latest from Blog
The viral clip showed a driver merging onto a main road without waiting for a safe…
Asnida attended MACC to assist with ongoing investigations.…
Trump’s trade war targeted steel and aluminum imports. Household goods like cookware saw sharp increases.…
McDonald’s Malaysia has continued its community outreach initiatives in celebration of Hari Raya Aidilfitri, reinforcing its…
Workers say using AI feels like training their replacement. A poll shows 30% fear their jobs…
