KUALA LUMPUR: A massive amount of jewellery, handbags and other luxury goods was amassed from 48 vendors in at least 14 countries using monies totaling US$346mil (RM1.63bil) from 1Malaysia Development Bhd and SRC International Sdn Bhd, the High Court was told.
The locations worldwide include the British Virgin Islands (one), Hong Kong (nine), India (four), Indonesia (two), Italy (three), Lebanon (three), Mauritius (one), Panama (one), Singapore (one), Thailand (two), United Arab Emirates (seven), Turkiye (two), the United Kingdom (two) and the United States (seven).
This was alleged in a statement of claim in a lawsuit by 1MDB, SRC and four subsidiaries against Datin Seri Rosmah Mansor and another individual filed last week.
The plaintiffs claimed that eight entities, registered offshore, had made 320 purchases of luxury goods with funds amounting to US$346,010,489 between 2010 and 2014.
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The luxury items were received by Rosmah, they claimed.
"These payments are traceable to and represent the monies misappropriated from 1MDB and its four subsidiaries and SRC International, that is, the funds misappropriated between 2010 and 2014," the plaintiffs claimed.
The four 1MDB subsidiaries are 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd and Global Diversified Investment Company Ltd, formerly known as 1MDB Global Investments Ltd.
The companies claimed that monies to fund the purchases came from 1MDB and SRC, which were fraudulently transferred out to entities registered in offshore jurisdictions and had no connection with or served no legitimate purpose with regards to investments objectives by the companies.
"These entities as well the transactions between them involving the fund, served no legitimate commercial purpose other than to act as a conduit for the onward movement and diversion of the funds to obscure final destinations," the statement said.
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On May 9, 1MDB, SRC, and nine others (including the four 1MDB subsidiaries) filed the lawsuit against Rosmah seeking US$364mil belonging to them.
The plaintiffs claimed that Rosmah, the wife of jailed former prime minister Datuk Seri Najib Razak, had used the funds from the companies to purchase luxury items such as jewellery, watches and handbags.
Apart from 1MDB, SRC, and the four companies, other plaintiffs are Affinity Equity International Partners Ltd, Alsen Chance Holdings Ltd, Blackrock Commodities (Global) Ltd, Blackstone Asia Real Estate Partners Ltd and Brightstone Jewellery Ltd.
The plaintiffs named Rosmah as the first defendant and Shabnam Naraindas Daswani (also known as Natasha Mirpuri) as the second defendant.
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They claim that Shabnam, who is a fashion designer based in Singapore, had purchased or procured the luxury items on behalf of Rosmah.
The plaintiffs claim that funds from 1MDB and its subsidiaries were channelled to various offshore entities – including Affinity Equity, Alsen Chance, Blackrock Commodities, Blackstone Asia and Brightstone Jewellery – before being paid out to 48 different vendors based in 14 jurisdictions for the luxury goods.
They further claimed the goods sought were "traceable substitutes" of 1MDB and its subsidiaries' trust property, thus the plaintiffs have an equitable proprietary interest in the luxury goods.
They are seeking a court declaration that they have equitable proprietary interest in the good and traceable proceeds in the hands of Rosmah as well as an order for Rosmah to pay the first until the sixth plaintiffs a sum of USD346mil.
Case management is fixed on June 14 via Zoom.
