Court date set for 1MDB suit against Najib’s stepson who produced Wolf of Wall Street
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Riza Abdul Aziz in a photo taken in 2020.
PHOTO: THE STAR/ASIA NEWS NETWORK
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KUALA LUMPUR - The hearing for a lawsuit filed by scandal-linked sovereign fund 1Malaysia Development Berhad (1MDB) and three of its subsidiaries against Riza Abdul Aziz for the alleged misappropriation of funds amounting to US$250 million (S$333 million) will begin at a Kuala Lumpur high court in 2024, Malaysian news agency Bernama reported on Wednesday.
Riza is the stepson of former prime minister Najib Razak.
The three 1MDB subsidiary plaintiffs are 1MDB Energy Holdings, 1MDB Energy and 1MDB Energy (Langat).
Lawyer Desmond Low, representing Riza and his two companies, Red Granite Pictures Incorporated and Red Granite Capital, said the trial had been set for separate hearings over Oct 16 to 18, Oct 21 to 25, Oct 28 to Nov 1 and Nov 4, all in 2024.
“The hearing will be before Judicial Commissioner Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan,” Mr Low told Bernama on Wednesday.
According to Mr Low, Thursday has been set for case management.
On May 7, 2021, 1MDB and its three subsidiaries sued Riza and his two companies, alleging they had received around US$248 million in funds they misused for their personal gain, including financing a Hollywood film, The Wolf Of Wall Street, that starred actor Leonardo DiCaprio and buying multiple properties.
The plaintiffs are seeking a declaration that Riza is responsible for the misappropriated funds and demand repayment.
Riza and his two companies, in a statement of defence filed on Oct 25, 2021, claimed to have obtained the loan from Saudi Arabia’s royal family or the International Petroleum Investment Company to produce several films in the United States.
He claimed that it was difficult for an unknown film producer to obtain bank loans, compelling him to seek funds from other individuals or companies.
