PETALING JAYA: Amicorp Group has rejected troubled state wealth fund 1Malaysia Development Bhd’s (1MBD) US$1bil claim against the Hong Kong-based corporate services provider, vowing to defend itself in the British Virgin Islands suit.
The US$1bil claim is inaccurate and it would be left to the BVI Court of Justice to assess the suit, according to a statement by Amicorp. 1MDB, as the fund is known, together with its subsidiaries and liquidators, had filed the suit on Dec 20 against Amicorp for facilitating fraudulent transactions.
“Amicorp strongly denies the allegations made by the claimants relating to wrongful acts, including knowingly facilitating over US$7bil in fraudulent transactions relating to the misappropriation of 1MDB’s funds,” it said in a statement to Bloomberg News yesterday.
1MDB’s multi-billion dollar scandal has spanned multiple criminal probes around the world, including in the United States. — Bloomberg
