malaysiang
KUALA LUMPUR: A UK-based financial fraud investigator, Richard Templeman, told the High Court here today that 1Malaysia Development Berhad’s (1MDB) fund of US$13 million was used for casino activities by two ‘players’ at Las Vegas Sands LLC in the United States, 12 years ago. The two ‘players’ identified were fugitive businessman Low Taek Jho, or Jho Low, and his associate Eric Tan Kim Loong.
According to BERNAMA News Agency, on June 20, 2012, US$41 million was transferred from Red Granite Capital, a company owned by Riza Shahriz Abdul Aziz, the stepson of Datuk Seri Najib Tun Razak, to a shell company, namely Alsen Chance. Alsen Chance, with no legitimate business, was used to launder funds misappropriated from 1MDB and SRC International Sdn Bhd and then distributed these funds to various parties, including to the casino company.
US$13 million was transferred to Las Vegas Sands LLC, with US$11 million marked for ‘PLAYER NO 3454296’ on July 10, 2012, and US$2 million for ‘TAN KIM LOONG PLAYER NO 4678710’ on
July 11, 2012. Research indicates that Las Vegas Sands LLC is a casino and resort company.
On July 23, 2012, amounts of US$7.35 million and US$1.3 million were credited back to the Alsen Chance account from Las Vegas Sands LLC. These payments were marked as ‘funds due from Low Taek Jho’ and ‘funds due from Tan Kim Loong’. It seems likely these funds were the balance of those paid out to Las Vegas Sands LLC earlier, representing the funds transferred from Red Granite Capital to Alsen Chance.
In his witness statement, Templeman, with 24 years of experience in the investigation of complex fraud and financial crime, stated that Riza also received millions from Good Star Limited, a company owned by Jho Low, from 2011 onwards, benefiting from it. For the record, Good Star received US$700 million and US$330 million in 2009 and 2011, respectively, from 1MDB.
In May 2021, 1MDB and its subsidiaries filed a suit against Riza Shahriz, Red Granite Pictures Inc, and Red Granite Capital Ltd for allegedly receiving around
US$248 million in misused funds for personal gain, including financing a film and purchasing properties. 1MDB claimed that Riza Shahriz misappropriated their funds from Jho Low or was reckless in failing to make relevant inquiries about the sources of the funds, seeking a declaration of responsibility and repayment.
In a statement of defense filed in 2021, the defendants claimed they obtained a loan from the Saudi royal family or the International Petroleum Investment Company to produce several films in the United States. The trial before Judicial Commissioner Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan continues.
