DBS sued for more than S$1.2 billion in 1MDB-related lawsuit, says it 'categorically rejects' claims
The contents of the suit are not known.
DBS has been sued for more than S$1.2 billion in damages allegedly related to the 1MDB scandal, according to Reuters. The lawsuit is filed by the liquidators of four companies, which may be shell companies set up for money laundering purposes, according to reports. DBS has categorically rejected the claim and will vigorously resist it, stating that there has been no claim against them throughout global recovery efforts related to the 1MDB case since 2018.
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