Rosmah accumulated RM1.63bil in jewellery and designer goods using 1MDB funds.

KUALA LUMPUR – A huge amount of jewellery, bags and other luxury items were amassed by 48 vendors from at least 14 different countries, using money totaling US$346mil (1.63bil RM) from 1Malaysia Investment Bhd and SRC International Sdn Bhd.

Locations include: British Virgin Islands (1), Hong Kong (9), India (4), Indonesia (2), Italy (3), Lebanon (3), Mauritius (1), Panama (1), Singapore (1), Thailand (2), United Arab Emirates (7), Turkiye (2), United Kingdom (2), and United States (7).

This was claimed in the statement of claim filed by 1MDB and its subsidiaries last week against Datin Seri Rosmah Mansor, and another individual.

The plaintiffs alleged that eight offshore entities had purchased 320 luxury items between 2010 and 2014 with a total of US$346,010 489.

Rosmah received the luxury items, they claim.

The plaintiffs claimed that “these payments can be traced back to 1MDB, its four subsidiaries, and SRC International and they represent the misappropriated funds between 2010 and 2014.”

The four 1MDB subsidiary companies are 1MDB Energy Ltd., 1MDB Energy Ltd., 1MDB Energy(Langat) Ltd. and Global Diversified Investment Company Ltd., previously known as 1MDB Global Investments Ltd.

The companies claimed the funds to fund the purchase came from 1MDB or SRC. They said the money was fraudulently transferred to offshore entities that had no relation to the investment objectives of the companies and served no legitimate purpose.

The statement stated that “These entities, as well as the transactions between them regarding the fund, had no legitimate commercial purpose except to serve as a conduit to move the funds forward and divert them to obscurant final destinations.”

The lawsuit was filed on May 9 by 1MDB, SRC and nine other parties (including four 1MDB subsidiary companies) against Rosmah, seeking US$364mil that belongs to them.

Plaintiffs claimed Rosmah Razak, wife of former Prime Minister Datuk Seri Datuk Najib, used funds from companies to buy luxury items like jewellery, watches, and handbags.

Other plaintiffs include Affinity equity International Partners Ltd., Alsen Chance Holdings Ltd., Blackrock Commodities Global Ltd., Blackstone Asia Real Estate Partners Ltd. and Brightstone Jewellery Ltd.

The plaintiffs named Shabnam Naraindas daswani (also called Natasha Mirpuri), as the second defendant, and Rosmah Daswani as the first defendant.

They claim Shabnam, a fashion designer in Singapore, purchased or obtained the luxury items for Rosmah.

Plaintiffs claim funds from 1MDB, its subsidiaries, and their offshore entities, including Affinity equity, Alsen Chance Blackrock Commodities Blackstone Asia, Brightstone Jewellery, were paid to 48 different vendors in 14 jurisdictions before being paid to 48 different companies.

The plaintiffs also claimed that the goods sought are “traceable replacements” for 1MDB’s and its subsidiary trust property. Therefore, they have an equitable ownership interest in the luxury items.

They want a declaration from the court that they are entitled to equitable ownership of the goods and traceable proceeds held by Rosmah, as well as a ruling ordering Rosmah pay USD346mil in damages for the first through sixth plaintiffs.

The case management will be fixed via Zoom on the 14th of June.

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