Liquidators trying to recover money from Malaysia's sovereign wealth fund 1MDB have sued Standard Chartered Bank in Singapore, alleging it enabled fraud that led to more than $2.7 billion in financial losses more than 10 years ago.

Liquidators still trying to recoup billions of dollars siphoned from Malaysia’s sovereign wealth fund and then laundered

MDB said the lawsuit seeks to hold the U.K. bank accountable for its alleged role in the ‘systematic theft of funds which ultimately belonged to ordinary Malaysians.’