The Kuala Lumpur High Court was recently told that fugitive businessman, Low Taek Jho (more famously known as Jho Low), had allegedly used his front company to transfer US$2.4 million (RM10,483,485) from 1Malaysia Development Berhad (1MDB) into the bank accounts of celebrities, Pharrell Williams and Kim Kardashian.
According to a report by BERNAMA, Financial fraud investigator, Richard Templeman from the United Kingdom, said his investigation revealed that 1MDB transfered US$1.03 billion (RM4,493,890,000) for the benefit of Jho Low through his company, Good Star Ltd.
“These funds were transferred through a series of offshore companies and used for, inter alia, the personal benefit of the co-conspirators and their relatives and associates,” he said.
From the RM4,493,890,000 that went into Good Star, US$2,025,000 (RM8,839,125) was allegedly transferred to Suntrust Bank in the name of Talamasca Inc.
“The transactions between August 11 and Nov 17, 2011, carried details of the payments such as ‘part payment for music production’ and ‘Letter of Agreement DD 3 NOV 2011 Red Spring Investments And Talamasca/Pharrell Williams’,”
“I note that publicly available information links Talamasca Inc. with musician Pharrell Williams. I have no further information regarding this transfer of funds,” he explained.
Additionally, a total of US$306,000 (RM1,335,690) was transferred to reality TV star, Kim Kardashian, and another US$100,000 (RM436,500) to her then-husband, Kris Humphries.
“Further sums were also paid from the Good Star account into several entities including US$1 million (RM4,365,000) into Chelsea Hospital Partners LLC, US$124,313 (RM542,626) into Greenberg Traurig International and US$285,000 (RM1,244,025) into Blackhawk Partners Inc. However, the purpose is currently unknown,” he added.
Templeman, who is the director of investigations at Kroll Advisory Ltd, is leading the ongoing investigation into the misappropriation of funds from 1MDB and SRC International Sdn Bhd through the liquidated company.
The hearing before the Judicial Commissioner Raja Ahmad Mohzanuddin Shah Raja Mohzan continues tomorrow.
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Also read: Jho Low & Family Agree to Hand Over Assets Worth RM471 MIL in Agreement with US Authorities
