Standard Chartered Faces $2.7 Billion Lawsuit Linked to 1MDB (2)

Standard Chartered Plcis facing a $2.7 billion lawsuit from liquidators alleging it played a role in enabling the laundering of billions of dollars misappropriated from Malaysian sovereign wealth fund 1MDB.

Liquidators began legal proceedings against the UK-headquartered bank in Singapore, according to a statement released on Tuesday. Standard Chartered has yet to receive the claim documents and “emphatically rejects any claims” made by the 1MDB companies, the bank said in a reply to Bloomberg News.

The claimants allege that Standard Chartered Bank permitted more than 100 intrabank transfers between 2009 and 2013 that helped to conceal the flow of ...