Published by Global Banking & Finance Review®
Posted on December 23, 2024
1 min readLast updated: January 27, 2026
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1MDB has filed a $7 billion fraud claim against Amicorp Group in the British Virgin Islands, alleging facilitation of fraudulent transactions.
KUALA LUMPUR - Scandal-hit Malaysian state fund 1Malaysia Development Berhad has filed a legal claim against corporate services provider Amicorp Group and its CEO alleging it facilitated over $7 billion in fraudulent transactions, 1MDB said on Monday.
The claim was filed in the British Virgin Islands against eight Amicorp entities and its Chief Executive Officer Toine Knipping, alleging that they played a vital role in enabling the sovereign wealth fund to be defrauded between 2009 and 2014, 1MDB said in a statement. It estimates the value of the claim at over $1 billion.
Amicorp Group did not immediately respond to a request for comment.
(Reporting by Danial Azhar; Editing by Martin Petty)
The main topic is 1MDB's legal claim against Amicorp Group for facilitating over $7 billion in fraudulent transactions.
The lawsuit involves 1MDB, Amicorp Group, and its CEO Toine Knipping.
The legal claim was filed in the British Virgin Islands.
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