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Standard Chartered Faces Lawsuit Related to Decade-Old 1MDB Scandal

  • Standard Chartered is facing a lawsuit in Singapore by liquidators attempting to recover funds from Malaysia's 1MDB scandal.
  • The lawsuit alleges that Standard Chartered enabled fraud against 1MDB over 10 years ago.
  • Kroll is seeking to recover $4.5 billion stolen from 1MDB, claiming Standard Chartered facilitated intrabank transfers to conceal the money movement.
  • The financial scandal, involving major money laundering and misappropriation of funds, has resulted in legal actions by authorities and led to the downfall of high-profile individuals.

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