Tag #Amicorp

What is the immediate impact of 1MDB's lawsuit against Amicorp, and what does it reveal about the scale of the financial scandal?

1MDB, the scandal-hit Malaysian fund, is suing Amicorp Group and its CEO for over \$1 billion, alleging they facilitated over \$7 billion in fraudulent transactions between 2009 and 2014. Amicorp allegedly created shell companies and sham transactions to obscure the origin and destination of stolen funds, playing a "vital role" in the fraud, according to 1MDB. This lawsuit is part of a broader global effort to recover stolen assets.