|
Standard Chartered PLC faces a lawsuit filed in Singapore on Monday that seeks more than $2.7 billion from the bank over its alleged role in the theft of funds from Malaysia’s sovereign wealth fund, the Financial Times reported on Tuesday. StanChart shares were down 1.2% to 1,193.00 pence in London early Tuesday. The wider FTSE 100 index was marginally higher. The London-based, Asia and Africa-focused lender is accused by liquidators of 1MDB of failing to conduct required anti-money laundering checks, the FT said, citing ‘people with knowledge of the claim’. The lawsuit claims that between 2009 and 2013, StanChart permitted more than 100 intra-bank transfers that helped to conceal the flow of billions of dollars of funds stolen from 1MDB. The FT said StanChart told it in a statement that it had not yet received the claim documents and it ‘emphatically rejects any claims’ by the 1MDB companies. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
