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Deloitte To Pay Malaysia $80 Million To Settle Claims Linked To State Fund 1MDB
The successful out-of-court settlement with Deloitte will expedite the payment of monies to fulfill 1MDB and SRC’s outstanding obligations, which would otherwise be delayed by potentially protracted and costly court battle,
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Audit firm Deloitte PLT will pay the Malaysian government $80 million to resolve all claims related to their duties in auditing accounts of scandal-linked state fund 1MDB and its unit SRC International from 2011 to 2014, the finance ministry said on Wednesday.
"The successful out-of-court settlement with Deloitte will expedite the payment of monies to fulfill 1MDB and SRC’s outstanding obligations, which would otherwise be delayed by potentially protracted and costly court battle," the ministry said in a statement.
(Reuters)