IPIC, Aabar to Pay Malaysia $1.8 Billion in 1MDB Dispute
- 1MDB was focus of scandal that led to probes across the world
- Goldman has admitted its role in multi-billion dollar scandal
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Malaysia reached a $1.8 billion settlement with International Petroleum Investment Co. and Aabar Investments PJS to end a legal dispute linked to the multi-billion scandal involving the southeast Asian nation’s 1Malaysia Development Bhd.
The two sides have been locked in proceedings at a London’s court, with Malaysia claiming that the Abu Dhabi entities — which have since been rolled into Mubadala Investment Co. — were aware of fraud allegations against former Prime Minister Najib Razak at the time the deal was struck.