07:02 AM EDT, 08/22/2025 (MT Newswires) -- JPMorgan Chase ( JPM ) will pay the Malaysian government 1.4 billion Malaysian ringgit ($330 million) as part of a deal to settle matters related to its role in the scandal at state fund 1Malaysia Development Berhad, according to news outlets, citing a statement by both parties.

US and Malaysian officials say at least $4.5 billion was stolen from the fund between 2009 and 2014, Reuters reported.

The fund sued JPMorgan ( JPM ), Deutsche Bank and Coutts to recover alleged losses in 2021, the reports said.

JPMorgan ( JPM ) will contribute the settlement payment to the government's 1MDB Assets Recovery Trust Account, the reports added.

"We appreciate the collaboration with the Malaysian Government in resolving past matters related to 1MDB, which have been thoroughly reviewed," JPMorgan ( JPM ) said in a statement emailed to MT Newswires. "Since then, we've enhanced our controls, earning the trust of regulators in Switzerland and beyond."