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Malaysia sues Deutsche Bank, JP Morgan, Coutts over 1MDB

Reuters
Updated ·1 min read
Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia

(Removes extraneous word "seeks" in headline)

KUALA LUMPUR (Reuters) - Malaysia 1MDB fund is suing units of Deutsche Bank and J.P. Morgan, and Coutts & Co Ltd to recover billions in alleged losses from a corruption scandal at the fund, court documents seen by Reuters showed on Monday.

1MDB is claiming $1.11 billion from Deutsche Bank (Malaysia) Bhd, $800 million from J.P. Morgan (Switzerland) Ltd and $1.03 billion from Coutts, and interest payments from all of them, according to documents filed at a Kuala Lumpur court.

Malaysia's finance ministry said earlier on Monday that 1Malaysia Development Berhad (1MDB) and a former unit have filed 22 civil suits seeking to recover more than $23 billion in assets from entities and people allegedly involved in defrauding them. (This story refiles to removes extraneous word "seeks" in headline)

(Reporting by Rozanna Latiff; writing by A. Ananthalakshmi; Editing by Martin Petty)