Malaysian govt, 1MDB file US$5.64b lawsuit against KPMG partners: Report

by TMR 

THE Malaysian government, Finance Ministry, 1Malaysia Development Bhd (1MDB) and various subsidiaries have filed a US$5.64 billion (RM23.6 billion) suit against 44 KPMG Malaysia partners over alleged audit misconducts, according to media reports.

The lawsuit alleged that KPMG had committed breaches of contract and negligence in the audit and certification of 1MDB financial statements for the financial years 2010 to 2012.

It was filed Tuesday this week.

1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd, formerly known as 1MDB Global Investment Company Ltd, are also listed as plaintiffs.