JP Morgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says.
An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former Goldman Sachs managing director Roger Ng, and Tim Leissner, former chairman of Southeast Asia for Goldman Sachs, according to the U.S. Department of Justice (DOJ).
