Swizz Beatz Faces Legal Battle Over $7.3M in Stolen 1MDB Funds
International fugitive Jho Low allegedly gifted millions in stolen Malaysian funds to rapper and producer Swizz Beatz (Kasseem Dean), according to a lawsuit filed by 1Malaysia Development Berhad (1MDB) liquidators in New York.
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Photo Credit: Swizz Beatz by Richard Alexander Caraballo / CC by 3.0
The lawsuit seeks to recover over $7.3 million in misappropriated funds, with Dean personally receiving at least $2.2 million through his companies Swizz Beatz Productions Inc. and Monza Studios Inc. Dean has filed to dismiss the claim, despite previously surrendering an Andy Warhol painting gifted by Low to the Department of Justice.
Low allegedly used 1MDB, a Malaysian sovereign wealth fund, as a personal slush fund, diverting billions into luxury properties, fine art, and extravagant events, including his 31st birthday where Swizz Beatz performed.
A 1MDB Board spokesperson stated: "Those who benefitted from this orchestrated theft will not evade accountability and will be relentlessly pursued until we have recovered our nation's rightful assets."
Angela Barkhouse, an independent Court officer overseeing the claimants, confirmed they have conducted detailed investigations to recover previously unreported assets for the benefit of creditors IMDB and SRC International Sdn Bhd, seeking restitution for financial losses caused by fraud participants and facilitators.
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