KUALA LUMPUR – 1Malaysia Development Bhd (1MDB) has hauled Datin Seri Rosmah Mansor to court over the receipt of nearly US$350 million (RM1.65 billion) worth of luxury goods through funds misappropriated from the sovereign wealth fund and 10 other entities.
Rosmah, the wife of incarcerated ex-prime minister Datuk Seri Najib Razak, was named as a respondent in the suit alongside one Singaporean Shabnam Naraindas Daswani, also known as Natasha Mirpuri.
According to a writ filed at the high court yesterday by the plaintiffs’ counsel Messrs Lim Chee Wee Partnership, the plaintiffs contend that Rosmah had received, among others, “thousands of items of jewellery, watches and handbags”, with Shabnam procuring the items on her behalf.
The plaintiffs claim that the misappropriated funds were channelled through various offshore entities, including five of the plaintiffs in the suit, before being paid out to 48 different vendors based in no less than 14 jurisdictions for the purchase of the luxury goods.
A total of 320 such payments totalling US$346.01 million were made, the plaintiffs assert, claiming that since the goods represent a “traceable substitute” of 1MDB’s trust property, it has an “equitable proprietary interest” in the goods.
The plaintiffs are seeking a court order compelling Rosmah to return the goods to plaintiffs as well as an order for her to pay them US$346.01 million or other such sum to be assessed by the court.
For Shabnam, the plaintiffs are calling for an order that she be made to pay a sum set by the court due to her acts as a “constructive trustee” on the ground of dishonest assistance.
Against both of the respondents, the plaintiffs are seeking damages or equitable compensation, an account of profits, aggravated and/or exemplary damages, interest and costs on a full indemnity basis.
The plaintiffs in this case are 1MDB, 1MDB Energy Holdings Ltd, 1MDB Energy Ltd, 1MDB Energy (Langat) Ltd, Global Diversified Investment Company Ltd (formerly known as 1MDB Global Investments Ltd), and SRC International Sdn Bhd.
The offshore entities listed as 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.
Court documents said the offshore plaintiffs are in the process of liquidation.
Case management for the suit has been set for May 24 via e-review before deputy registrar Malarselvi Sanmugam. – May 10, 2024