Swizz Beatz Faces Legal Battle Over $7.3M in Alleged 1MDB Stolen Funds

Swizz Beatz Faces Legal Battle Over $7.3M in Alleged 1MDB Stolen Funds

By Marcus Hartley

December 17, 2024 at 06:15 AM

Swizz Beatz faces a major lawsuit over his alleged involvement in the Malaysia 1MDB fraud scandal, with liquidators seeking to recover millions in misappropriated funds.

The lawsuit, filed in New York, claims Swizz Beatz (Kasseem Dean) received over $7.3 million in stolen funds from international fugitive Jho Low, who allegedly masterminded the multi-billion-dollar fraud against Malaysia's sovereign wealth fund, 1Malaysia Development Berhad (1MDB).

Man wearing camo jacket

Man wearing camo jacket

Photo Credit: Swizz Beatz by Richard Alexander Caraballo / CC by 3.0

Key details of the case:

  • Dean personally received $2.2 million in gifts from Low
  • Additional millions were transferred to his companies Swizz Beatz Productions Inc. and Monza Studios Inc.
  • Dean has previously surrendered an Andy Warhol painting gifted by Low to the Department of Justice
  • He performed at Low's 31st birthday party, which was allegedly funded with stolen money

Dean and his attorneys have filed to dismiss the claim, indicating resistance to returning the funds. The 1MDB Board spokesperson stated they will "relentlessly pursue" recovery of the stolen assets, urging Dean to "take responsibility and return the stolen funds."

Angela Barkhouse, an independent Court officer overseeing the claims, confirmed the action seeks restitution for financial losses caused by the fraud's perpetrators and facilitators.

Kid Rock meets Florida AG Pam Bondi

Kid Rock meets Florida AG Pam Bondi

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Proper Distribution logo, black backdrop

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