Swizz Beatz Ordered to Face 1MDB Scandal Bankruptcy Lawsuit
A federal judge has ruled that music producer Kasseem Dean, better known as Swizz Beatz, must remain a defendant in a bankruptcy case related to the 1MDB scandal. The ruling denies his motion to dismiss himself and his companies from the case. The plaintiffs, Angela Barkhouse and Toni Shukla, allege fraudulent conveyance and unjust enrichment against Dean and his companies, seeking to recover $7.3 million.
The case involves alleged fraudulent transactions totaling $5.5 million between 2012 and 2017, with Dean receiving $2.2 million, Monza Studios $1.8 million, and Swizz Beatz Productions $1.5 million. These funds were intended for 1MDB projects but were instead transferred to Dean and his companies. The US Marshals recently auctioned artworks connected to the 1MDB scandal, raising $36 million.
Dean was also the recipient of a Warhol painting, Round Jackie, gifted by Jho Low in 2014. Low, a Malaysian businessman, is internationally wanted for his alleged central role in the 1MDB scandal, involving the misappropriation of billions from the Malaysian state fund. The US Department of Justice has previously recovered several artworks from Low and 1MDB's former general counsel as part of the scandal.
The case will now proceed to the discovery phase, with Dean and his companies remaining defendants. The plaintiffs aim to recover the misappropriated funds and hold those responsible accountable for their actions.
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