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DBS Bank Faces S$1.298 Billion Lawsuit Over 1MDB

9/9/2026

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Summary

Story summary

DBS Bank is being sued for S$1.298 billion damages linked to the 1MDB scandal.
Claimants include liquidators of BlackRock Commodities, Platinum Global Luxury Services, Affinity Equity International Partners, and TKIL Global Investments.
DBS said it will fight the claim and has made no provision for the lawsuit.
In July last year, liquidators sued Standard Chartered Bank in Singapore, alleging fraud causing over US$2.7 billion losses 2009-2013.

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Story summary

DBS Bank is being sued for S$1.298 billion damages linked to the 1MDB scandal.
Claimants include liquidators of BlackRock Commodities, Platinum Global Luxury Services, Affinity Equity International Partners, and TKIL Global Investments.
DBS said it will fight the claim and has made no provision for the lawsuit.
In July last year, liquidators sued Standard Chartered Bank in Singapore, alleging fraud causing over US$2.7 billion losses 2009-2013.