1MDB has consistently maintained that no money was stolen and can account for where its money has gone to. However, 1MDB is currently in dispute with IPIC where 1MDB maintains that it has paid or deposited or guaranteed up to USD6 billion by a company called Aabar Investments PJS BVI upon the instructions of Aabar’s the then Chairman, Khadem Al Qubaisi and the then Managing Director.
IPIC disputes that it owns Aabar Investments PJS Ltd (BVI) and thus denies it has received these funds from 1MDB.
This dispute is now in arbitration at the London Arbitration Center and will take many months. However, 1MDB is confident that they will win this case and stand a good chance to recover their money – which is why 1MDB had earlier refused to pay the interest on a USD3.5 billion bonds despite comfortably able to, which triggered the bond guarantee by IPIC thus leading to the arbitration process.
Media statement by 1Malaysia Development Berhad
Issued on 21 July 2016
For immediate publication
US Attorney General Press Conference
1MDB notes a press conference led by the US Attorney General today relating to a civil court action filed by the government of the United States of America.
1MDB highlights that it is not a party to the civil suit, does not have any assets in the United States of America, nor has it benefited from the various transactions described in the civil suit.
Furthermore, 1MDB has not been contacted by the US Department of Justice or any other foreign agency in relation to their investigations.
As previously stated, 1MDB will fully cooperate with any foreign lawful authority, subject to international protocols governing such matters and the advice of the relevant domestic lawful authorities.