KUALA LUMPUR: 1Malaysia Development Berhad (1MDB) on Wednesday (April 24) failed in its bid to transfer its suit against Riza Shahriz Abdul Aziz, the stepson of former Prime Minister Datuk Seri Najib Tun Razak, for alleged misappropriation of funds.
High Court Judicial Commissioner (JC) Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan dismissed the application and ordered the company to pay RM5,000 to Riza Shahriz and his two companies, Red Granite Pictures Incorporated and Red Granite Capital Limited.
1MDB applied for its suit to be heard together with another suit that it filed against Najib and seven others before Judge Atan Mustaffa Yussof Ahmad.
Also present in the proceedings were counsels Rabindra S. Nathan and Lim Jun Rui, representing 1MDB and three of its subsidiaries, namely 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited.
Lawyer Muhammad Farhan Muhammad Shafee and Genevieve Vanniasingham represented Riza Shahriz and his two companies.
Meanwhile, Muhammad Farhan, when contacted, confirmed the matter and said the trial would proceed in October this year as fixed previously before the same JC (Raja Ahmad Mohzanuddin).
On May 7, 2021, 1MDB and its three subsidiaries sued Riza Shahriz and his two companies for allegedly receiving around US$248mil 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 a 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, which compelled him to seek funds from individuals or companies. – Bernama
