KUALA LUMPUR: A staggering US$2.4mil of 1MDB Bhd fund was banked into the accounts of celebrity Kim Kardashian and musician Pharrell Williams, via fugitive businessman Low Taek Jho’s shell company Good Star Ltd, the High Court heard.

Financial fraud investigator Richard Templeman testified this during a Zoom hearing in the US$6.59bil lawsuit filed by 1Malaysia Development Bhd against former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah and former 1MDB CEO Arul Kanda Kandasamy here yesterday.

Based on his investigation, the plaintiff’s witness said that by Oct 25, 2011, 1MDB had transferred a total of US$1.03bil to Good Star for the benefit of Low.

“These funds were transferred through a series of offshore companies and used for, inter alia, the personal benefit of the co-conspirators and their relatives and associates,” he said in his witness statement.

From the billions of dollars that flowed through Good Star from 1MDB, US$2,025,000 was transferred from Good Star to a Suntrust Bank account in the name of Talamasca Inc.

The transactions between Aug 11 and Nov 17, 2011, carried details of the payments such as “part payment for music production” and “Letter of Agreement DD 3 NOV 2011 Red Spring Investments And Talamasca/Pharrell Williams”.

“I note that publicly available information links Talamasca Inc with the musician Pharrell Williams.

“I have no further information regarding this transfer of funds,” said Templeman.

He said there were further sums paid from Good Star to other entities, including US$306,000 to reality TV star Kim Kardashian and another US$100,000 to Kardashian and her then-husband Kris Humphries.

The purpose of these transactions, he said, was “currently unknown”.

Templeman is a director of investigations at Kroll Advisory Ltd, an international advisory firm with specialist expertise in restructuring and insolvency, corporate finance, forensic accounting and investigations, cross-border asset recovery and creditor services.

He led the ongoing investigations into the funds misappropriated from 1MDB and SRC International Sdn Bhd which flowed through liquidated companies.

In May 2021, 1MDB filed a lawsuit against Mohd Irwan and Arul Kanda, accusing them of breach of trust and conspiracy that resulted in US$1.83bil in losses related to the company’s investment in 1MDB-Petrosaudi Ltd, which was later converted into the Brazen Sky Limited investment, said to be recoverable from the Bridge Global Fund.

1MDB also alleged that both defendants committed breach of trust and conspiracy by misappropriating US$3.5bil in company funds paid to Aabar Investments and US$1.265bil paid to International Petroleum Investment Company on May 9, 2017.

1MDB claimed that Mohd Irwan colluded with Arul Kanda to execute an extension of an employment agreement, paying a substantial amount of RM2,905,200 to Arul Kanda, disregarding 1MDB’s interests, which resulted in losses and damages to the company.

Consequently, 1MDB is seeking US$6.59bil in damages from both defendants for these violations, and an additional RM2.9mil from Mohd Irwan related to the extension of the employment agreement.

The hearing continues today before Judicial Commissioner Raja Ahmad Mohzanuddin Shah Raja Mohzan.

https://www.thestar.com.my/news/nation/2024/09/10/us-stars-got-1mdb-millions