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Malaysia says Deloitte paid US$80 million in 1MDB settlement

Malaysia on Thursday said it had received US$80 million from audit firm Deloitte PLT, as part of a settlement deal related to a multi-billion dollar scandal at 1Malaysia Development Berhad (1MDB).

FILE PHOTO: Traffic passes a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchang
FILE PHOTO: Traffic passes a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, July 6, 2015.REUTERS/Olivia Harris

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KUALA LUMPUR: Malaysia on Thursday said it had received US$80 million from audit firm Deloitte PLT, as part of a settlement deal related to a multi-billion dollar scandal at 1Malaysia Development Berhad (1MDB).

Malaysia's finance ministry said in a statement it is also negotiating a settlement with another auditor, KPMG, related to 1MDB. About 16.4 billion ringgit (US$3.98 billion) in seized and repatriated 1MDB funds have been returned to Malaysia to date, the ministry said.

(US$1 = 4.1200 ringgit)

(Reporting by Joseph Sipalan; Editing by Ed Davies)

Source: Reuters