Swizz Beatz Accused Of Receiving $7.3 Million In Stolen Funds

Swizz Beatz is accused of being involved in a multi-billion dollar fraud lawsuit. Filed in New York on Wednesday (Oct. 2), the suit says Swizz, whose birth name is Kasseem Daoud Dean, allegedly received more than $7 million linked to the 1MDB scandal.

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The 1Malaysia Development Berhad corruption scandal consisted of Jho Low, his associate Eric Tan, and others allegedly stealing billions of dollars from the fund and misappropriating the money. Court documents obtained by AllHipHop explain how Swizz was allegedly involved.

“As the 1MDB Fraud was underway, Jho Low became a well-known figure in the Hollywood scene and developed a reputation as a businessman with deep pockets and a penchant for hosting lavish, star-studded parties and group vacations,” the lawsuit read. “Throughout the early 2010s, Low befriended many U.S. celebrities including Dean and his wife Alicia Keys. “

Low and his associates allegedly gave $7.3 million in stolen funds to Swizz Beatz.

In order to recoup funds obtained from Affinity Equity International Partners Limited and Alsen Chance Holdings Limited — which were linked to the 1MDB scandal — liquidators sued the producer.

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“Between September 21, 2012 and September 4, 2014, Jho Low and/or Eric Tan caused the debtors to transfer $7,300,000 to defendants and, during that same time period, the debtors did not receive any money back from the defendants or any other consideration from the defendants in exchange for the fraudulent transfers,” the lawsuit explained. “Consequently, a net amount of $7,300,000 was conveyed from the debtors to the defendants.”

According to the outlet, Alsen Chance “gave $1.5 million to Swizz Beatz Productions Inc. in September 2012. Payments of $1 million and $800,000 were sent in October 2012… Affinity sent $800,000 to Swizz Beatz’s Monza Studios in November 2013 and $1 million in December 2013. Swizz Beatz received $500,000 in June 2014, $300,000 in July 2014 and $1.4 million in September 2014.”

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