1MDB sues PetroSaudi International’s chief investment officer Patrick Mahoney to recover US$1.83b

In its statement of claim, 1MDB alleges that Patrick Mahoney dishonestly assisted Datuk Seri Najib Razak and others, including 1MDB executive director Casey Tang Keng Chee, fugitive businessman Low Taek Jho , and PSI director Tarek Obaid, in defrauding 1MDB . — AFP picKUALA LUMPUR, May 23 — 1Malaysia Development Berhad has filed a lawsuit against Patrick Mahoney, the chief investment officer of PetroSaudi International Ltd , seeking to recover US$1.83 billion.

The lawsuit, filed in the High Court on May 7 by 1MDB through the law firm Lim Chee Wee Partnership, also names the UK-based law firm White & Case LLP as a defendant. The plaintiff further alleges that White & Case, acting on Mahoney’s instructions, prepared fraudulent share purchase and loan agreements on behalf of PetroSaudi Holdings Ltd/PSI to deceive 1MDB.

Source: News Formal (newsformal.com)

Patrick Mahomes 1MDB 1Malaysia Development Berhad (1MDB) Suit

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