JPMorgan to Pay $330 Million to Malaysia to Settle 1MDB Case

JPMorgan Chase & Co. will pay 1.4 billion ringgit ($330 million) to Malaysia to resolve all existing and potential claims relating to the sovereign wealth fund 1MDB, a move that will end its exposure to one of the biggest financial frauds in history.

Under the settlement, the lender will — “without admission of liability” — contribute the sum to Malaysia’s Assets Recovery Trust Account, according to an emailed statement Friday. The agreement “resolves all existing and potential claims and binds both parties from any future claims or litigations related to 1MDB.”