Swizz Beatz Accused in Multi-Billion Dollar 1MDB Fraud Lawsuit

Renowned music producer Swizz Beatz, whose real name is Kasseem Daoud Dean, has been named in a multi-billion dollar fraud lawsuit tied to the infamous 1Malaysia Development Berhad (1MDB) corruption scandal.

The lawsuit, filed in New York on Wednesday (Oct. 2), accuses the producer of receiving over $7 million linked to the scandal.

The 1MDB scandal, one of the largest financial frauds in recent history, involved Malaysian financier Jho Low and his associate Eric Tan, who are accused of embezzling billions from the 1MDB fund.

According to court documents obtained by AllHipHop, Swizz Beatz allegedly became entangled in the scandal through his association with Low, who was known for hosting extravagant parties and befriending numerous Hollywood celebrities.

“Throughout the early 2010s, Jho Low developed a reputation as a wealthy businessman in Hollywood, known for his lavish, star-studded events,” the lawsuit states. “During this time, Low became close with many U.S. celebrities, including Swizz Beatz and his wife, singer Alicia Keys.”

The lawsuit claims that Low and his associates funneled $7.3 million of stolen 1MDB funds to Swizz Beatz through various transactions.

Liquidators are now seeking to recover the funds allegedly transferred through companies linked to the scandal, including Affinity Equity International Partners Limited and Alsen Chance Holdings Limited.

Court documents outline the timeline of the alleged payments:

• In September 2012, Alsen Chance transferred $1.5 million to Swizz Beatz Productions Inc.
• Additional payments of $1 million and $800,000 followed in October 2012.
• Affinity Equity sent $800,000 to Swizz Beatz’s Monza Studios in November 2013, followed by $1 million in December 2013.
• Further payments of $500,000 in June 2014, $300,000 in July 2014, and $1.4 million in September 2014 were also reportedly sent to Swizz Beatz.

According to the lawsuit, these payments were made without any repayment or compensation from Swizz Beatz, and the funds are being described as fraudulent transfers. The liquidators are now pursuing legal action to recover the $7.3 million allegedly received by the producer.

As of now, Swizz Beatz has not publicly responded to the accusations. The 1MDB scandal has been a source of international legal action, with numerous celebrities, businesspeople, and financial institutions implicated in the misappropriated funds.

The case is still developing, with further legal proceedings expected to follow.