Photo Credit: Swizz Beatz by Richard Alexander Caraballo / CC by 3.0
Rapper and producer Swizz Beatz is facing heat for receiving millions in funds stolen from Malaysia in the multi-billion-dollar 1MDB fraud.
A lawsuit alleges rapper and producer Swizz Beatz, real name Kasseem Dean, was gifted millions of dollars by international fugitive Jho Low, who is accused of masterminding the multi-billion-dollar fraud in Malaysia. Now a new filing reveals Dean’s intention to fight the claim against him, filed in New York by the liquidators of the defrauded Malaysian sovereign wealth fund, 1Malaysia Development Berhad (1MDB).
The lawsuit, filed in October, seeks to recover funds funnelled to Dean’s companies Swizz Beatz Productions Inc. and Monza Studios Inc., through Low’s network of fraudulent transactions. Dean is accused of receiving over $7.3 million in funds stolen from 1MDB by the still-at-large Jho Low.
In a new public filing, Dean and his attorneys request to dismiss the claim, indicating he has no intention of returning the misappropriated funds to Malaysia. The new development comes despite Dean having previously surrendered another extravagant gift from Low, an Andy Warhol painting, to the Department of Justice.
According to the lawsuit, Dean personally received at least $2.2 million from the misappropriated funds in gifts from Low, with additional millions transferred to his companies. Low allegedly used the sovereign wealth fund’s money — intended to finance projects for the benefit of the Malaysian people and nation — as a personal slush fund, diverting billions into luxury properties, fine art, and extravagant events. These include Low’s 31st birthday, where Swizz Beatz performed.
“This claim alleges that Swizz Beatz, through his friendship with Jho Low, benefitted from the defrauding of the Malaysian people. Shamefully, Swizz Beatz continues to resist returning money looted from 1MDB,” says a spokesperson for the 1MDB Board. “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. We urge Swizz Beatz to take responsibility and return the stolen funds.”
“This claim seeks the return of funds traceable to 1MDB,” added Angela Barkhouse, an independent officer of the Court in control of the claimants in these proceedings. “We have, in accordance with our court appointed powers, undertaken independent and detailed investigations to recover previously unreported or unknown assets for the benefit of the creditors: IMDB and SRC International Sdn Bhd. This action seeks to ensure restitution for the financial losses caused by the wrongdoing of fraudsters, facilitators, and conduits of the fraud.”