According to civil filings to the United States District Court in Los Angeles, the law firm held millions of dollars in stolen funds in an account in the US; the money was allegedly used to finance the lavish lifestyles of several businessmen associated with the 1Malaysia Development Berhad (1MDB) sovereign wealth fund.

US federal prosecutors have filed a series of civil complaints to seize $1 billion in assets bought with money from the fund, including commercial properties and a private jet.

No knowledge

The New York-headquartered firm is not alleged to have committed any wrongdoing or to have had knowledge about how the funds were being misused.

Source: The Lawyer