Amicorp Rejects 1MDB’s $1 Billion Claim, Vows to Defend Itself in Court
Amicorp Denies Wrongdoing
Amicorp Group has rejected 1Malaysia Development’s (1MDB) $1 billion claim against the Hong Kong-based corporate services provider, stating it will defend itself against the suit in the British Virgin Islands court. 1MDB, a troubled state wealth fund, along with its subsidiaries and liquidators, had filed the suit on December 20 against Amicorp for facilitating fraudulent transactions.
Amicorp’s Statement
In a statement to Bloomberg News, Amicorp strongly denied the allegations made by 1MDB, including knowingly facilitating over $7 billion in fraudulent transactions related to the misappropriation of 1MDB’s funds. The company emphasized that it had not been subjected to regulatory investigations nor has it been party to any civil suit relating to the 1MDB scandal. Amicorp also stated that it had cooperated with authorities and prosecutors from Singapore, Switzerland, and Malaysia over its role in the scandal.
Global Investigations
1MDB’s multibillion-dollar scandal has spanned multiple criminal probes around the world, including in the US. Authorities in Asia, the US, and Europe have been working to coordinate their investigations into the money trail from 1MDB, as well as legal approaches toward asset recovery.
Background
Former Malaysian Prime Minister Najib Razak, who founded 1MDB, is currently in jail for graft over his role in the scandal.
Conclusion
Amicorp’s rejection of 1MDB’s $1 billion claim and its vow to defend itself in court is a significant development in the ongoing saga surrounding the 1MDB scandal. As the global authorities continue to investigate and recover assets, Amicorp’s stance will be closely watched.
FAQs
Q: What is Amicorp’s stance on 1MDB’s $1 billion claim?
A: Amicorp has rejected the claim, stating it is inaccurate and will defend itself in the British Virgin Islands court.
Q: What is the nature of Amicorp’s relationship with 1MDB?
A: Amicorp has denied knowingly facilitating fraudulent transactions and has cooperated with authorities and prosecutors from multiple countries.
Q: What is the scope of the 1MDB scandal?
A: The scandal involves multibillion-dollar fraud and misappropriation of funds, with investigations and probes ongoing in the US, Asia, and Europe.
