KUALA LUMPUR - The hearing of a lawsuit filed by 1Malaysia Development Berhad (1MDB) and three of its subsidiaries against Riza Shahriz Abdul Aziz, the stepson of former Prime Minister Datuk Seri Najib Razak, for alleged misappropriation of funds amounting to US$250 million for film production and purchase of the real estate, will begin on Oct 16 next year at the High Court here.
The three 1MDB’s subsidiaries are 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited.
Lawyer Desmond Low Zhi Jie, representing Riza Shahriz and his two companies, Red Granite Pictures Incorporated and Red Granite Capital Limited, said the trial had been set for Oct 16 to 18, 21 to 25, Oct 28 to Nov 1 and Nov 4, 2024.
"The hearing will be before Judicial Commissioner Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan," said the lawyer when contacted today.
According to Low, tomorrow is set for case management.
On May 7, 2021, 1MDB and its three subsidiaries sued Riza Shahriz and his two companies for allegedly receiving around US$248 million in funds that they misused for their personal gain, including financing a film and purchasing various properties.
The plaintiffs are seeking a declaration that Riza Shahriz is responsible for the misappropriated funds and demand repayment.
Riza Shahriz and his two companies, in a statement of defence filed on Oct 25, 2021, claimed to have obtained the loan from the Saudi royal family or the International Petroleum Investment Company to produce several films in the United States.
He claimed that it was difficult for an unknown film producer to obtain bank loans and that had compelled him to seek funds from individuals or companies. - BERNAMA