US investigating Deutsche Bank’s dealings with Malaysian fund 1MDB


The bad bank would house or sell assets valued at up to 50 billion euros ($56.06 billion)- after adjusting for risk - and comprise mainly long-dated derivatives, the FT reported, citing four people briefed on the plan

THE sprawling, multibillion-dollar Malaysian development fraud scandal that has toppled a prime minister and stretched from Hollywood to Wall Street is threatening to implicate another major global financial institution: Deutsche Bank AG.

The U.S. Justice Department is investigating whether the German lender violated foreign corruption or anti-money-laundering laws in its work for the 1Malaysia Development Bhd. fund, which included helping the fund raise $1.2 billion in 2014 as concerns about the fund’s management and financials had begun to circulate, according to people familiar with the matter.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Elsa to grow digital technology, robotics, engineering segments after positive ACE Market debut
Bank of Japan raises interest rates to 31-year high
Invictus Blue wins Digital Agency of the Year at digital marketing awards
Asia markets temper Iran deal optimism, BOJ decision in view
Bursa pauses rally as traders assess developments
Ringgit opens higher against US$ on Fed rate hold expectations
Trading ideas: Kerjaya Prospek, Powerwell, Taghill, Mycron, OSK, Tanco, IJM, PetChem, Country Heights, Poh Kong, Astro
Oil settles at three-month low after Trump says deal signed to end Iran war
Wall Street rallies, Dow ends with record on US-Iran deal, oil price slide
Healthy growth forecast for MR DIY despite softer consumer spending

Others Also Read