00:001MDB and several of its subsidiaries have initiated legal action against Amicorp Group and its founder,
00:08Toin Niping, for claiming to facilitate the transfer of funds in excess of US$7 billion.
00:15The claimant's claim that Amicorp played an important role in the fake transaction in 2009-2014
00:23has led to the theft of funds from 1MDB.
00:26Amicorp is also accused of providing access to the global financial system through its subsidiaries.
00:31Amicorp Bank, which is registered in Barbados,
00:34allowed the recycling of assets and the creation of fake paper traces to cover up the stolen funds.
00:41The stolen money was claimed in a network through the global network reaching Singapore,
00:46Barbados, Kuala Lumpur, Hong Kong and the British Virgin Islands.
00:51A spokesman for the Amicorp Board of Directors stated that there is solid evidence
00:56that shows Amicorp is fully aware of its involvement in the fraud and money laundering operations
01:03aimed at extorting funds that should be for the Malaysian people.
01:08The court ruling in BVI on December 20 against 8 Amicorp entities
01:14Amicorp claims to have repaid a loss of more than US$1 billion from the global corporate services provider.
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