US$2.4 Million from 1MDB Diverted to Kim Kardashian and Pharrell Williams' Accounts via Jho Low’s Shell Company

During a High Court Zoom hearing, it was revealed that US$2.4 million (RM10.46 million) from 1Malaysia Development Berhad (1MDB) was funneled into the bank accounts of celebrities Kim Kardashian and Pharrell Williams through a shell company, Good Star Ltd., owned by fugitive businessman Low Taek Jho (Jho Low). Financial fraud investigator Richard Templeman provided this information as part of his testimony in a US$6.59 billion lawsuit filed by 1MDB against former Treasury Secretary-General Tan Sri Mohd Irwan Serigar Abdullah and former 1MDB CEO Arul Kanda Kandasamy.

 

Templeman, a director at Kroll Advisory Ltd stated that by October 25, 2011, 1MDB had transferred US$1.03 billion to Good Star, which was used for the personal benefit of Jho Low and his associates. He explained that US$2.025 million from these funds was transferred to a Suntrust Bank account under Talamasca Inc., linked to Pharrell Williams. The transactions were labeled as payments for music production between August and November 2011.

Further investigation revealed that Good Star also transferred US$306,000 to Kim Kardashian and US$100,000 to Kardashian and her then-husband Kris Humphries. The purpose of these payments remains unclear.

In May 2021, 1MDB sued Mohd Irwan and Arul Kanda for breach of trust and conspiracy, resulting in US$1.83 billion in losses from an investment with 1MDB-Petrosaudi Ltd. The lawsuit also alleges misappropriation of US$3.5 billion to Aabar Investments and US$1.265 billion to International Petroleum Investment Company. Additionally, 1MDB accuses Mohd Irwan of working with Arul Kanda to extend his employment contract, resulting in a RM2.9 million payout.

1MDB is seeking US$6.59 billion in damages from both defendants and RM2.9 million from Mohd Irwan related to the employment agreement. The hearing will continue before Judicial Commissioner Raja Ahmad Mohzanuddin Shah Raja Mohzan.

Posted on 10-Sep-2024