Malaysia Oversight

Malaysia secures RM1.4b from JPMorganChase in 1MDB settlement

By MalayMail in August 22, 2025 – Reading time 1 minute
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KUALA LUMPUR, Aug 22 — The federal government has secured RM1.4 billion from investment bank JPMorganChase as part of a settlement linked to the 1MDB scandal.

The funds will be channelled into Malaysia’s Assets Recovery Trust Account, which manages monies recovered from the multibillion-dollar scandal.

In a joint statement, 1MDB and JPMorganChase said the agreement resolves all existing and potential claims between the two parties.

“The Malaysian Government and JPMorganChase are pleased to announce that they have resolved all matters relating to 1MDB,” the statement said.

As part of the deal, both sides will withdraw pending appeals in the Kuala Lumpur High Court, including a lawsuit by 1MDB against JP Morgan (Switzerland) Ltd.

The settlement comes as Swiss prosecutors confirmed a conviction against JP Morgan Suisse for failing to prevent aggravated money laundering tied to 1MDB funds.

The Office of the Attorney General of Switzerland fined JP Morgan Suisse CHF3 million (RM15.6 million) after finding organisational failures that allowed suspicious transfers to proceed.

Prosecutors said the bank processed 43 transfers worth CHF174 million between October 2014 and July 2015, despite public warnings about PetroSaudi’s involvement in fraud.

The Swiss case determined that the funds were connected to earlier offences in which two PetroSaudi managers were found guilty of embezzling over US$1.8 billion from 1MDB.

The OAG said it would not order additional compensation as 1MDB, the private claimant, is already receiving RM1.4 billion through the JPMorganChase settlement.



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