*Swizz Beatz is implicated in a multi-billion dollar fraud lawsuit connected to the 1Malaysia Development Berhad (1MDB) corruption scandal.
Filed in New York on October 2, the lawsuit alleges Swizz (born Kasseem Daoud Dean) received over $7 million tied to the scandal. The 1MDB case involves Jho Low, Eric Tan, and others accused of embezzling billions from the fund. Court documents reveal Swizz’s alleged involvement in the scheme, AllHipHop reports.
The lawsuit states: “As the 1MDB Fraud was underway, Jho Low became a well-known figure in the Hollywood scene and developed a reputation as a businessman with deep pockets and a penchant for hosting lavish, star-studded parties and group vacations,” reads the suit.
“Throughout the early 2010s, Low befriended many U.S. celebrities including Dean and his wife Alicia Keys,” the filing continues. “Between September 21, 2012 and September 4, 2014, Jho Low and/or Eric Tan caused the debtors to transfer $7,300,000 to defendants and, during that same time period, the debtors did not receive any money back from the defendants or any other consideration from the defendants in exchange for the fraudulent transfers.”
The breakdown of funds Alsen Chance supposedly sent to Swizz Beats includes “$1.5 million to Swizz Beatz Productions Inc. in September 2012. Payments of $1 million and $800,000 were sent in October 2012… Affinity sent $800,000 to Swizz Beatz’s Monza Studios in November 2013 and $1 million in December 2013. Swizz Beatz received $500,000 in June 2014, $300,000 in July 2014 and $1.4 million in September 2014.”
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Liquidators filed a lawsuit to recover $3.3 million from Swizz Beatz Productions, $1.8 million from Monza Studios, and then $2.2 million from the acclaimed music producer. The filer is also demanding that Swizz Beatz cover attorneys’ fees and other court costs.
Meanwhile, Pras Michel, a member of the hip-hop group Fugees, was convicted in April 223 on multiple money laundering charges related to the 1MDB scandal. He continues to maintain his innocence.
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