KUALA LUMPUR: The Malaysian government and JPMorgan Chase have resolved all matters relating to 1Malaysia Development Bhd through a comprehensive settlement agreement.
The American banking giant will pay RM1.4 billion (330 million US dollars) to Malaysia’s Assets Recovery Trust Account as part of this resolution.
“This settlement agreement resolves all existing and potential claims and binds both parties from any future claims or litigations related to 1MDB,“ the Finance Ministry stated.
Each party will withdraw all pending appeals connected with the lawsuit previously filed by 1MDB against J.P. Morgan (Switzerland) Ltd at the Kuala Lumpur High Court.
The government has successfully recovered a total of RM29.7 billion linked to 1MDB and its former subsidiary SRC International Sdn Bhd since establishing the Asset Recovery Trust Account in December 2018.
Recovery efforts from 2022 up to June 30, 2025 have yielded RM10.9 billion for the trust account. – Bernama
