1MDB Suit: Jho Low Transferred US$2.4 Mln of 1MDB Monies To Hollywood Celebrities

KUALA LUMPUR, Sept 9 (Bernama) -- The High Court today was told that fugitive businessman Low Taek Jho or Jho Low had used his shell company to funnel a sum of US$2.4 million from 1Malaysia Development Berhad (1MDB) into the bank accounts of Hollywood celebrities Pharrel Williams and Kim Kardashian.

Financial fraud investigator Richard Templeman from the United Kingdom said his investigation revealed that 1MDB had transferred US$1.03 billion for the benefit of Jho Low via his company, Good Star Ltd.

"These funds were transferred through a series of offshore companies and used for, inter alia, the personal benefit of the co-conspirators and their relatives and associates," he said in his witness statement in 1MDB's US$6.59 billion civil suit against its former director Tan Sri Mohd Irwan Serigar Abdullah and former president, Arul Kanda Kandasamy.

Templeman testified from the US$1.03 billion that went into Good Star from 1MDB, US$2,025,000 was transferred from Good Star into a Suntrust Bank account in the name of Talamasca Inc.

"The transactions between Aug 11 and Nov 17, 2011 carried details of the payments such as “part payment for music production" and ”Letter of Agreement DD 3 NOV 2011 Red Spring Investments And Talamasca/Pharrell Williams".

"I note that publicly available information links Talamasca Inc with musician Pharrell Williams. I have no further information regarding this transfer of funds," he said. 

Templeman said a sum of US$306,000 was transferred to reality TV star Kim Kardashian and another  US$100,000 to her then husband Kris Humphries.

"Further sums were also paid from the Good Star account into several entities including US$1 million into Chelsea Hospital Partners LLC, US$124,313 into Greenberg Traurig International and US$285,000 into Blackhawk Partners Inc, however, the purpose is currently unknown," he said.

Templeman is a director of investigations at Kroll Advisory Ltd and is leading the ongoing investigations into the funds misappropriated from 1MDB and SRC International Sdn Bhd which flowed through liquidated companies.

In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arul Kanda over an alleged breach of trust and conspiracy that resulted in US$1.83 billion in losses related to the company's investment in 1MDB-Petrosaudi Ltd, which was later converted into the Brazen Sky Limited investment, said to be recoverable from the Bridge Global Fund.

1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating US$3.5 billion in company funds paid to Aabar Investments and US$1.265 billion paid to International Petroleum Investment Company on May 9, 2017.

1MDB is seeking US$6.59 billion in damages from both defendants for these violations and an additional RM2.9 million from Mohd Irwan related to the extension of employment agreement.

The trial before Judicial Commissioner Raja Ahmad Mohzanuddin Shah Raja Mohzan continues tomorrow.

-- BERNAMA