JPMorgan Chase (NYSE:JPM) agreed to pay Malaysia 1.4B ringgit ($330M) to settle all claims relating to 1MDB, the sovereign wealth fund that was the focus of one of the world's largest financial frauds,

JPMorgan Chase will pay the Malaysian government $330 million as part of a settlement to resolve all matters related to its role in the multi-billion dollar scandal at state fund 1MDB, both parties said on Friday.

Malaysian officials accused the bank of processing $800 million in suspicious transfers from the 1MDB state fund to a bogus business partnership.