Swizz Beatz has been accused of being involved in a scam where he received more than $7 million in illegal money.
According to court documents first obtained by AllHipHop, the multi-billion dollar fraud lawsuit, which was filed in New York on Wednesday (Oct. 2), states that Swizz allegedly received the funds linked to the 1MDB scandal.
Jho Low and Eric Tan who made up the 1Malaysia Development Berhad allegedly misappropriated the money and stole billions of dollars.
“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,” the lawsuit states. “Throughout the early 2010s, Low befriended many U.S. celebrities including Dean and his wife Alicia Keys.”
In order to recoup the funds from Affinity Equity International Partners Limited and Alsen Chance Holdings Limited, which were linked to the 1MDB scandal, filed the suit against Swizz.
Lawsuit:
The lawsuit says that Low and Tan allegedly gave Swizz the money.
“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 lawsuit explained. “Consequently, a net amount of $7,300,000 was conveyed from the debtors to the defendants.”
The lawsuit goes on to say that Alsen Chance of Alsen Chance Holdings Limited, “gave $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.”
The plaintiffs are seeking $3.3 million in damages from Swizz Beatz Productions, $2.2 million from the producer, $1.8 million from Monza Studios and requested attorney’s fees and other court costs be covered.
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