Low Taek Jho (Jho Low)

KUALA LUMPUR (Sept 9): American media personality Kim Kardashian and singer-songwriter Pharell Williams were among those who received 1Malaysia Development Bhd (1MDB) funds from fugitive businessman Low Taek Jho (Jho Low) amounting to US$2.43 million, the High Court here was told on Monday.

During the first day of the US$6.59 billion civil suit between 1MDB and former 1MDB board member Tan Sri Mohd Irwan Serigar and its former chief executive officer Arul Kanda Kandasamy, financial fraud investigator Richard Templeman had revealed that between Aug 11 and Aug 17, 2011, his investigations found that a sum of US$2,025,000 was transferred from Good Star Ltd’s account to a bank account under Talamasca Inc.

Good Star is the shell company which Jho Low had used to siphon out more than US$1 billion meant for purported 1MDB investments, for his own use.

According to Templeman, who was testifying from London via Zoom, Talamasca is linked to Pharell.

Arul Kanda Kandasamy (Filepix by Patrick Goh/The Edge)

Templeman also testified that Kim Kardashian and her then-husband, basketballer Kris Humphries, had received US$406,000, but could not state the purpose of the funds.

He then also went on to outline transactions from Alsen Chance, a British Virgin Islands-incorporated company owned by Low’s associate Tan Kim Loong, who was the sole director and shareholder of that company.

More 1MDB money was funnelled into Alsen Chance after 1MDB had received US$907,500,000 from a bond issuance in 2012, secured by the government despite the company being in heavy debt due to the Good Star transfers.

Tan Sri Mohd Irwan Serigar (Filepix by Patrick Goh/The Edge)

The US$907,500,000 was transferred to a Falcon Private Bank and from there, US$576,943,490 was transferred to an Aabar BVI account under the control of Jho Low as well.

From there, former prime minister Datuk Seri Najib Razak’s stepson Riza Aziz was the beneficiary of two properties in the United States worth US$55 million, which was from monies transferred to his film production company Red Granite Capital.

Templeman said that this information was according to investigations done by the US Department of Justice, which corroborated with his findings.

Kim Kardashian (Reuters filepix)

Pharell Williams (Bloomberg filepix)

Money from the Red Granite account was also transferred into Alsen Chance to the tune of US$41 million.

From there, Kim Kardashian again received another US$250,000 in payment to her company Kimsaprincess in 2012.

The case is on its first day of trial before High Court Judicial Commissioner Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan.

1MDB filed the suit in May 2021 and claimed that both Arul Kanda and Mohd Irwan were liable for breach of duties and breach of trust, resulting in the company suffering losses amounting to US$1.83 billion in relation to its investment in 1MDB-Petrosaudi Ltd, which was converted into stakes in Brazen Sky Ltd and then converted into an investment in Bridge Global Fund.

Riza Aziz (The Edge filepix)

It also alleged that Arul Kanda and Mohd Irwan committed breach of trust and conspiracy by misappropriating US$3.5 billion of 1MDB money and paying it to Aabar Investments PJS Ltd — a shell company pretending to be a subsidiary of International Petroleum Investment Company (IPIC) — and subsequently paying another US$1.265 billion to IPIC in May 2017.

1MDB also claimed that Mohd Irwan had conspired with Arul Kanda to cause the fund to implement an employment extension agreement that resulted in it paying RM2.91 million to Arul Kanda, regardless of 1MDB’s interests, causing it to suffer losses and damage.

Among others, the strategic development company is seeking RM30.91 billion from the duo as a result of the purported breaches, and the return of the RM2.91 million from Mohd Irwan in relation to the employment extension agreement.