The civil suit by 1MDB claims that Riza Aziz and his companies misappropriated US$248 million from 1MDB funds for personal expenses, including gambling and movie...
In 1MDB’s RM1b civil suit against Riza Aziz , court told funds siphoned out were used for gambling and producing moviesMalaysia
The High Court was told that Riza knowingly received the funds, which were routed through Jho Low’s companies, and is being sued for restitution of the misused amount. In the plaintiff’s opening statement, 1MDB said billions of Malaysian ringgit were siphoned out of 1MDB’s funds through various artifices, devious devices and plain old deceit that deceived and misled various innocent third parties which came to be known worldwide as the 1MDB Scandal.
“As regards the plaintiffs’ claims herein, the plaintiffs contend that the defendants knowingly received funds in circumstances that the funds had been misappropriated from 1MDB and dishonestly assisted in the breaches of fiduciary duty or breaches of trust by Jho Low,” the statement prepared by 1MDB’s solicitor Messrs Shearn Delamore reads.
A total of three witnesses will be called by 1MDB on its behalf, namely its former chief executive Datuk Shahrol Azral Ibrahim Halmi, former general counsel Jasmine Loo Ai Suan and financial fraud investigator Richard Templeman.
1Malaysia Development Bhd 1MDB Red Granite Pictures Najib Razak
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