Former 1MDB CEO Arul Kanda Kandasamy admitted in court that he took no action to counter negative reports from local and international media regarding the company’s financial controversies. He was testifying in a USD6.59 billion lawsuit filed by 1MDB against him and former board chairman Tan Sri Mohd Irwan Serigar Abdullah.
Former 1MDB CEO Arul Kanda Kandasamy admitted in court today that he took no action to counter negative reports from local and international media regarding the company’s financial controversies . — Bernama picas a first-time user .
Lim then referred him to four reports published between February and April 2015, by the Sarawak Report, The Edge, the South China Morning Post, and Euromoney. In May 2021, 1MDB filed a lawsuit against the two individuals, accusing them of breach of trust and conspiracy, which led to losses of USD1.83 billion, linked to the company’s investment in 1MDB-Petrosaudi Ltd, which was subsequently converted into the Brazen Sky Limited investment, purportedly recoverable from the Bridge Global Fund.
1MDB Arul Kanda Financial Controversies Lawsuit Media Reports
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