JPMorgan Chase will pay $330 million to settle claims that it facilitated transactions in the looting of a Malaysian sovereign-wealth fund, one of the largest financial crimes of the century.Malaysia had sued the bank’s Swiss unit in Malaysian civil court four years ago,

JPMorgan Chase will pay the Malaysian government $330 million to settle matters related to its role in the multibillion-dollar scandal at state fund 1MDB, both parties said on Friday.

JPMorgan has agreed to pay $330mn to the Malaysian government to settle claims related to its role in the 1MDB financial scandal. In a joint statement with the Malaysian government on Friday, JPMorgan said it would contribute the amount to Malaysia’s Assets Recovery Trust Account “without admission of liability”.