KUALA LUMPUR (Oct 4): American hip-hop producer and rapper Kasseem Dean, popularly known as Swizz Beatz, allegedly received US$7.3 million (RM30.8 million) in stolen 1Malaysia Development Bhd (1MDB) funds, the Law360 legal news service reported, citing a lawsuit filed in the US.

The report said Dean and his companies allegedly participated in various financial transactions orchestrated by Jho Low, the Malaysian fugitive accused of masterminding the 1MDB fraud scheme.
 
The suit was filed by Angela Barkhouse and Toni Shukla, the joint liquidators of the alleged shell companies Affinity Equity International Partners Ltd and Alsen Chance Holdings Ltd, against Dean and his two companies, at the New York federal court on Wednesday.

According to the report, Low and his associates allegedly gifted the US$7.3 million to Dean and his companies, of which at least US$3.3 million was transferred to Dean’s companies Swizz Beatz Productions Inc, and at least US$1.8 million went to Monza Studios Inc.

Dean, who is also the husband of singer Alicia Keys, meanwhile, is alleged to have personally received at least US$2.2 million from what are described as "ill-gotten funds".

One specific transaction mentioned involves a transfer of US$1.4 million to Dean from an Affinity account in September 2014, according to Law360.

The report also mentioned that Affinity, as part of the scheme, received about US$775 million in funds from the 1MDB scheme over a period from July 2013 to September 2014, while Alsen Chance received about US$806 million in 1MDB funds between May 2010 and February 2013.

“The suit seeks recovery and alleges counts of intentional and constructive fraudulent conveyance under the former New York Debtor Creditor Law and unjust enrichment,” said the report.

Dean is not the only artist linked to the 1MDB scandal. Pras Michel, a former member of the Fugees, was found guilty in 2023 of illegally funnelling money from Jho Low into Barack Obama's 2012 presidential campaign and lobbying the Donald Trump administration on behalf of China.

At the Kuala Lumpur High Court last month, American media personality Kim Kardashian and singer-songwriter Pharell Williams were named as among those who allegedly received 1MDB funds from Jho Low amounting to US$2.43 million in 2011.

This was disclosed by financial fraud investigator Richard Templeman at the US$6.59 billion civil suit between 1MDB and former 1MDB board member Tan Sri Mohd Irwan Serigar and its former chief executive officer Arul Kanda Kandasamy.

Meanwhile, former prime minister Datuk Seri Najib Razak will know his fate—whether he has to enter his defense or will be acquitted in the 1MDB-Tanore trial—by the end of the month.

In that suit, Najib is charged with four counts of abuse of power in enriching himself with RM2.27 billion of 1MDB funds, and 21 counts of money laundering of the same amount.