Malaysia Receives KPMG’s $80 Million 1MDB Settlement Payment

Malaysia has received $80 million from KPMG in settlement over the firm’s audit of state fund 1Malaysia Development Bhd.’s accounts for the financial years 2010 through 2012, according to the finance ministry.

The money was deposited into Malaysia’s Assets Recovery Trust Account, which has received a total of 19.138 billion ringgit of seized and repatriated funds. The funds have been used to settle 1MDB’s outstanding debts, Finance Minister Zafrul Tengku Abdul Aziz said in a statement on Thursday.

KPMG Arrives at $80 Million Settlement With Malaysia Over 1MDB

“The current balance of the Trust Account is sufficient to pay ...