Malaysia’s state investment fund 1 Malaysia Development Berhad (1MDB) filed on Monday a lawsuit against corporate services provider Amicorp Group and its Chief Executive Officer (CEO), Toine Knipping, for allegedly facilitating the money laundering of over $7 billion in misappropriated funds, local media reported.
In its claim, 1MDB accused Amicorp Group of “fraudulently aiding and abetting breach of fiduciary duty and conspiracy to commit unlawful acts.” According to local media, a spokesperson of 1MDB asserted they had evidence that suggested Amicorp Group was fully aware of its involvement in money laundering operations to divert funds that were destined for Malaysian citizens and that it designed a complex network of entities in various countries to conceal the origin and destination of the money.
The Malaysian fund explained that Amicorp played a key role in fraudulent…
