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Standard Chartered vows to fight Singapore lawsuit by 1MDB liquidators

( July 1, 2025, 08:10 GMT | Official Statement) -- MLex Summary: Standard Chartered has firmly rejected allegations in a $2.7 billion lawsuit filed in Singapore by the liquidators of Malaysian sovereign wealth fund 1MDB, which aims to hold the bank accountable for enabling the fraud. In a statement sent to MLex, Standard Chartered said any claims by the companies involved — identified as shell entities linked to fugitives Low Taek Jho and Eric Tan — are “without merit.” It said that the accounts in question were closed by early 2013 and that it fully cooperated with authorities. The bank also noted that while the Monetary Authority of Singapore found breaches in its operations in 2016, the regulator did not identify widespread misconduct. The statement follows: ...

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