"Where is the 1MDB suit against its former auditor KPMG ?” said Pua, who is DAP's national publicity secretary. The US$1 billion included at least US$700 million that was siphoned to Jho Low's company, Good Star Ltd, he claimed. “The [KPMG] auditors were satisfied that the US$1 billion investment, which was converted into a [Islamic-compliant] murabaha loan, was sufficiently backed by a corporate guarantee from PSI. Since Deloitte Malaysia has settled the matter more than two months ago, 1MDB must commence the legal suit against KPMG immediately,” he said. Read also:Finance Ministry confirms 1MDB, SRC filed civil suits for a combined US$23b, as per The Edge reports1MDB and SRC file multibillion-dollar civil suits against those alleged to be responsible for fraud1MDB files multibillion-dollar suits against Deutsche Bank, Coutts, JP Morgan, Wong & Partners and othersNajib, Shahrol, Ismee and Ibrahim Ali among those named in 16 suits by SRC

Source: The Edge Markets May 11, 2021 03:00 UTC