26.07.2016 - Shearman & Sterling bank account linked to stolen Malaysian $1bn
Shearman & Sterling has become unwittingly caught up in the middle of the largest ever asset seizure by the US Department of Justice’s anti-corruption unit. Funds transferred to the law firm’s bank account are alleged to have financed the “luxurious lifestyles” of several businessmen associated with the 1Malaysia Development Berhad (1MDB) sovereign wealth fund. In civil filings to the United States District Court in Los Angeles, Shearman & Sterling is purported to have held millions of dollars in stolen funds in an Interest on Lawyer Account (IOLA) in the US...............................................Full Article: Source
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