UPDATE 4-Malaysia sues Deutsche Bank, JP Morgan, Coutts over 1MDB [Reuters]
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Source: Reuters
Asia Pacific Malaysia sues Deutsche Bank, JP Morgan, Coutts over 1MDB Malaysia's now-defunct 1MDB state fund is suing units of Deutsche Bank (DBKGn.DE) , J.P. Morgan (JPM.N) and Coutts & Co to recover billions in alleged losses from a corruption scandal at the fund, court documents seen by Reuters showed. 1MDB is claiming $1.11 billion from Deutsche Bank (Malaysia) Bhd, $800 million from J.P. Morgan (Switzerland) Ltd and $1.03 billion from a Swiss-based Coutts unit, and interest payments from all of them, according to the lawsuit. The claims are premised on "negligence, breach of contract, conspiracy to defraud/injure, and/or dishonest assistance", 1MDB said in the documents, filed at a Kuala Lumpur court on Friday. The three companies did not immediately respond to a request for comment on the claims in the lawsuit. Malaysia's finance ministry said on Monday that 1MDB and a former unit had filed 22 civil suits seeking to recover more than $23 billion in assets from entities and peop
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