KUALA LUMPUR, Nov 4 – A UK-based financial fraud investigator, Richard Templeman told the High Court on Monday that 1Malaysia Development Berhad’s (1MDB) fund of US$13 million was used for casino by two ‘players’ at Las Vegas Sands LLC in the United States, 12 years ago.
The two ‘players’ were fugitive businessman Low Taek Jho, or Jho Low, and his associate Eric Tan Kim Loong.
According to Templeman, on June 20, 2012, US$41million 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 only to launder funds misappropriated from 1MDB and SRC International Sdn Bhd, then distributed these funds (US$41 million) to various parties, including to the casino company.
“US$13 million was transferred to Las Vegas Sands LLC, whereby US$11 million was on July 10, 2012, marked for “PLAYER NO 3454296” and US$2 million on July 11, 2012, marked for “TAN KIM LOONG PLAYER NO 4678710.”.
“Research indicates that Las Vegas Sands LLC is a casino and resort company. Meanwhile, on July 23, 2012, amounts of US$ 7.35 million and US$ 1.3 million were credited to the Alsen Chance account from Las Vegas Sands LLC. These payments were marked ‘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 on July 10 and 11, 2012, and therefore represent the funds transferred from Red Granite Capital to Alsen Chance,” said the British citizen.
In his witness statement, Templeman who has 24 years’ experience in the investigation of complex fraud and financial crime, stated that Riza also received millions of monies from Good Star Limited, a company owned by Jho Low from 2011 onwards, and he had actually benefited from it.
For the record, in 2009 and 2011, Good Star received US$700 million and US $330 million respectively from 1MDB.
In May 2021, 1MDB and its three subsidiaries namely 1MDB Energy Limited, 1MDB Energy Holdings Limited, and 1MDB Energy (Langat) Limited, filed the suit against Riza Shahriz, Red Granite Pictures Inc and Red Granite Capital Ltd for allegedly receiving around US$248million in funds that they misused for their personal gain, including financing a film and purchasing various properties.
1MDB claimed that Riza Shahriz had misappropriated their funds from Jho Low or was wilful and reckless in failing to make relevant inquiries as to the sources of the funds.
Thus, the plaintiffs are seeking a declaration that Riza Shahriz is responsible for the misappropriated funds, and therefore, are demanding a repayment.
In a statement of defence filed in 2021, the defendants claimed to have obtained a loan from the Saudi royal family or the International Petroleum Investment Company to produce several films in the United States.
