10-9-2024 (KUALA LUMPUR) The High Court in Kuala Lumpur heard testimony yesterday linking international celebrities to the ongoing 1Malaysia Development Berhad (1MDB) scandal. Financial fraud investigator Richard Templeman disclosed that approximately US$2.4 million of 1MDB funds were allegedly transferred to accounts associated with reality TV star Kim Kardashian and musician Pharrell Williams.
The testimony came during a virtual hearing in the 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, appearing as a witness for the plaintiff, provided detailed insights into the complex web of financial transactions that allegedly funnelled money from the state investment fund to various individuals and entities.
According to Templeman’s witness statement, by October 25, 2011, 1MDB had transferred a total of US$1.03 billion to Good Star Ltd, a shell company allegedly controlled by fugitive businessman Low Taek Jho, also known as Jho Low. The investigator stated that these funds were subsequently moved through a series of offshore companies, benefiting co-conspirators, their relatives, and associates.
In a particularly intriguing revelation, Templeman noted that US$2,025,000 was transferred from Good Star to a Suntrust Bank account in the name of Talamasca Inc. The transactions, occurring between August 11 and November 17, 2011, bore descriptions such as “part payment for music production” and referenced an agreement with “Pharrell Williams”. Templeman added that publicly available information links Talamasca Inc to the renowned musician.
The court also heard that additional sums were paid from Good Star to other entities, including US$306,000 to Kim Kardashian and another US$100,000 jointly to Kardashian and her then-husband, former basketball player Kris Humphries. However, Templeman stated that the purpose of these transactions remains “currently unknown”.
It is important to note that there is no suggestion of wrongdoing on the part of Kardashian, Williams, or Humphries, and it is unclear whether they were aware of the source of the funds.
Templeman, a director of investigations at Kroll Advisory Ltd, has been at the forefront of ongoing investigations into the funds misappropriated from 1MDB and its former subsidiary, SRC International Sdn Bhd. His testimony forms part of the broader lawsuit in which 1MDB accuses the defendants of breach of trust and conspiracy, resulting in billions of dollars in losses related to various investments and transactions.
The case, which has captivated Malaysia and drawn international attention, continues to unravel the complex financial dealings of 1MDB. The fund alleges that the defendants’ actions led to substantial losses, including US$1.83 billion related to investments in 1MDB-Petrosaudi Ltd and US$3.5 billion paid to Aabar Investments.
