Swizz Beatz denies that the $7.3 million he received from fugitive financier Jho Low was stolen 1MDB funds, insisting the payments were for legitimate music ventures.
Attorneys for Swizz Beatz, born Kasseem Dean, argue the Grammy-winning producer never received “fraudulent transfers” from Jho Low’s shell companies linked to Malaysia’s 1MDB scandal involving Fugees rapper Pras, All Hip Hop reports. The lawsuit, filed by British Virgin Islands liquidators for defunct entities allegedly used to divert Malaysian state funds, seeks to recover millions of dollars allegedly paid to Dean, Swizz Beatz Productions Inc., and Monza Studios Inc. between 2012 and 2014.
While Dean acknowledges receiving $7.3 million in transfers, he denies any wrongdoing. His lawyers say the funds were payments for professional services and investments, not bribes or laundered money. They highlight a $1.5 million transfer labeled “Alsen Chance investment in music production (Everyday Is Your Birthday),” which they argue clearly shows a legitimate business purpose tied to his music career.
“Defendants deny such funds were fraudulently or improperly transferred,” the filing states, arguing that all payments were “received without actual fraudulent intent and for reasonably equivalent value.”
The funds reportedly flowed through JPMorgan Chase accounts in New York between September 2012 and September 2014, with $3.3 million going to Swizz Beatz Productions, $1.8 million to Monza Studios, and $2.2 million to Dean personally. Attorneys at Blank Rome LLP assert the hip-hop producer had no knowledge of Low’s 1MDB scheme and was unfairly implicated in a global scandal years later.
Dean’s lawyers also deny allegations of a close friendship with Low, saying they met in the 2010s and had only a limited connection.
“Dean was introduced to Low but denied that Low and Dean were friends,” the document states.
Meanwhile, Pras Michel is still awaiting sentencing after being convicted of trying to influence Trump administration officials to halt an investigation into Low, the fugitive accused of embezzling Malaysia’s sovereign wealth fund. In September, his sentencing was delayed after the Grammy-winning rapper underwent emergency colon cancer surgery.
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