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NEWS: Kuwait pension fund’s $1 billion corruption lawsuit begins in UK court

A night view of Kuwait City on November 27,2008. REUTERS/Stephanie McGehee

By Sam Tobin

KUWAIT’S public pension fund accused asset manager Man Group, Swiss bank EFG and others of laundering bribes paid to its late director as a year-long $1 billion trial began at London’s High Court on Monday.

The Public Institution for Social Security (PIFSS), which operates Kuwait’s social security and pension scheme, is suing the estate of Fahad Al Rajaan, its director from 1984 to 2014.

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