Swizz Beatz is accused of receiving more than $7 million in stolen funds

Swizz Beatz was accused of being involved in a scam in which he received more than $7 million in illegal money.

According to court documents first obtained by Everything hip hopThe multibillion-dollar fraud lawsuit filed in New York on Wednesday (October 2) alleges that Swizz allegedly received the funds related to the 1MDB scandal.

Jho Low and Eric Tan, who formed 1Malaysia Development Berhad, allegedly embezzled the money and stole billions of dollars.

“While the 1MDB fraud was underway, Jho Low became a well-known figure on the Hollywood scene, developing a reputation as a deep-pocketed businessman with a penchant for hosting lavish, star-studded parties and group vacations,” it said the lawsuit. “During the early 2010s, Low became friends with many US celebrities, including Dean and his wife Alicia Keys.”

In order to recover the funds of Affinity Equity International Partners Limited and Alsen Chance Holdings Limited, which were related to the 1MDB scandal, it filed a lawsuit against Swizz.

Suit:

The lawsuit says Low and Tan gave the money to Swizz.

“Between September 21, 2012 and September 4, 2014, Jho Low and/or Eric Tan caused the Debtors to transfer $7,300,000 to the Defendants, and during the same period, the Debtors did not receive any money from the Defendants or others back consideration from the defendants in exchange for the fraudulent transfers,” the lawsuit states. “As a result, a net amount of $7,300,000 was transferred from the Debtors to the Defendants.”

The lawsuit further states that Alsen Chance of Alsen Chance Holdings Limited “donated $1.5 million to Swizz Beatz Productions Inc. in September 2012. Payments of $1 million and $800,000 were transferred in October 2012… Affinity transferred $800,000 to Swizz Beatz's Monza Studios.” 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.”

The plaintiffs are seeking $3.3 million in damages from Swizz Beatz Productions, $2.2 million from the producer and $1.8 million from Monza Studios, as well as attorneys' fees and other court costs.