Amicorp Group denies involvement in $7 billion fraud scandal, plans to dispute legal claim.

From Investing.com: 2024-12-23 20:20:36

Amicorp Group denies facilitating $7 billion in fraudulent transactions linked to 1MDB scandal, plans to dispute legal claim of over $1 billion. 1MDB alleges Amicorp and CEO enabled fraud between 2009-2014, creating complex financial structures to conceal funds’ origins. Misappropriated funds benefit Malaysian officials and UAE sovereign funds.

1MDB claims Amicorp orchestrated a conspiracy involving shell companies and sham transactions to conceal funds. Investigators estimate $4.5 billion siphoned from 1MDB since 2009, implicating Najib Razak, Goldman Sachs staff, and officials. Najib, former Malaysian PM, denies involvement and is currently in prison.



Read more at Investing.com: Amicorp Group denies alleged fraud of over $7 billion in Malaysia’s 1MDB scandal By Reuters