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 in Kuala Lumpur was told.
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NewsTranscript
00:00A vast collection of jewelry, handbags and other luxury goods totaling US$346 million
00:09had been amassed from 48 different vendors in at least 14 countries using monies from
00:14One Malaysia Development Berhad and SRC International Sendirian Berhad, according to papers filed
00:21at the High Court.
00:22In the statement of claim accompanying the lawsuit, the plaintiffs alleged that eight
00:27offshore entities made 320 luxury goods purchases between 2010 and 2014 using US$346 million.
00:37They asserted that Rosma received these luxury items.
00:40The companies claimed that the funds for these purchases were fraudulently transferred from
00:451MDB and SRC to offshore entities unrelated to any legitimate investment objectives.
00:52On May 9, 1MDB, SRC and nine others, including four 1MDB subsidiaries, filed a writ of summons
00:59against Rosma, seeking US$346 million.
01:04They claimed that Rosma, the wife of former Prime Minister Datuk Seri Najib Razak, used
01:08the funds from the companies to purchase luxury items such as jewelry, watches and handbags.
01:15Rosma was named as the first defendant and Shabnam Narayndas Daswani, also known as
01:21Natasha Mirpuri, was named as the second defendant.
01:25The plaintiffs alleged that Shabnam, a fashion designer based in Singapore, procured the
01:30luxury items on Rosma's behalf.
01:33The plaintiffs further claimed that 1MDB and its subsidiaries' funds were channeled through
01:38various offshore entities before being used to pay 48 vendors across 14 jurisdictions
01:44for the luxury goods.
01:46They asserted that these goods are a traceable substitute of 1MDB and its subsidiaries' trust
01:53property, giving them an equitable proprietary interest in the luxury goods.
01:58They are seeking a court declaration of their equitable proprietary interest in the goods
02:03and traceable proceeds held by Rosma, as well as an order for Rosma to pay the plaintiffs
02:09US$346 million.
02:12Case management is fixed on June 14 via Zoom.