NOT SO FAST, RIZA AZIZ! – NAJIB’S STEPSON TO GO BACK TO THE DOCK – 1MDB SUIT AGAINST RIZA SET FOR FULL TRIAL NEXT YEAR
Malaysian sovereign wealth fund 1MDB’s US$248 million lawsuit against Hollywood film producer Riza Shahriz Abdul Aziz and his two companies will come up for full court hearing in October and November next year.
When contacted, Riza’s counsel Desmond Low confirmed the full trial dates before judge Raja Ahmad Mohzanuddin Shah Raja Mohzan.
The lawyer said that the trial dates are Oct 16 to 18, Oct 21 to 25, and Oct 28 to Nov 1, and Nov 4, 2024.
Low was speaking after attending case management of the civil action before Raja Ahmad Mohzanuddin earlier this morning.
Riza’s two companies are Red Granite Pictures Incorporated and Red Granite Capital Limited.
On May 7, 2021, 1MDB and its subsidiaries filed the lawsuit against Riza (above) and his two companies for purportedly receiving US$248 million in funds that they allegedly misused for personal gain, including by financing film production and buying up various properties.
The plaintiffs alleged that due to Riza managing both firms, he would know that the funds originating from 1MDB had been misappropriated.
They are seeking, among others, a declaration that Riza is responsible for the misappropriated funds and to pay back the money to them.
Through his statement of defence, Riza claimed that the money was received from a loan from Saudi royalty or the International Petroleum Investment Company (IPIC) and not from 1MDB.
The defendant claimed that it was hard for an unknown film producer to obtain loans from commercial banks and that had compelled him to seek funding from individuals or companies.
On Aug 5 last year, the High Court in Kuala Lumpur allowed 1MDB’s application to obtain documents in the suit against Riza.
The Malaysian sovereign wealth fund was seeking documents regarding the receipt and use of US$10,173,104 by Red Granite Pictures and US$238 million by Red Granite Capital Limited.
Besides 1MDB, the other three plaintiffs are its subsidiaries, namely 1MDB Energy Holdings Limited, 1MDB Energy Limited and 1MDB Energy (Langat) Limited.
MKINI
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