KUALA LUMPUR – The high court here has dismissed 1Malaysia Development Bhd’s (1MDB) application to transfer its US$250-million (RM1.19-billion) civil suit against Datuk Seri Najib Razak’s stepson Riza Shahriz Abdul Aziz to another court.
Judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan, who presided over the application, rejected it on jurisdictional grounds.
This means the proceedings, which are scheduled to start on October 16, will continue to be presided over by Raja Ahmad Mohzanuddin.
Representing 1MDB in this matter are lawyers Rabindra S. Nathan and Lim Jun Rui.
Appearing for Riza are lawyers Muhammad Farhan Shafee and Genevieve Vanniasingham.
1MDB and its three subsidiaries – 1MDB Energy Holdings Ltd, 1MDB Energy Ltd and 1MDB Energy (Langat) Ltd – had sued 46-year-old Riza.
On May 7, 2021, Riza and his companies were accused of allegedly misappropriating US$250 million in 2011 and 2012, which was purportedly used to buy luxury properties and finance the film The Wolf of Wall Street, among others.
According to the writ of summons, 1MDB claimed Riza “knew or ought to have known that those funds had been misappropriated”.
1MDB is seeking a court declaration that Riza and the two companies are liable for the misappropriated funds and alternatively, a declaration that the plaintiffs are entitled to repayment of the said funds allegedly received by the three defendants on the basis of unjust enrichment as a consequence of the misappropriation.
In his statement of defence, Riza said the funds used to finance films under his company Red Granite Pictures were loans from the Saudi royal family. – April 24, 2024