Swizz Beatz Sued For Allegedly Accepting Over $7 Million In Embezzlement Funds

Swizz Beatz

Swizz Beatz Sued For Allegedly Accepting Over $7 Million In Embezzlement Funds

Famed producer Swizz Beatz has been sued for allegedly receiving several millions in illegal funds.

Court documents obtained by HipHopDX state that the musician, real name Kasseem Daoud Dean, 46, and his businesses are accused of being involved in the multi-billion dollar 1MDB scandal that nearly sent Kimora Lee Simmons’ estranged husband Tim Leissner to prison.

Tim Leissner, Kimora Lee Simmons

If you recall, the case alleged that two foreign businessmen named Jho Low and Eric Tan stole billions from various institutions as part of one of the largest embezzlement schemes in history.

A new lawsuit filed against Swizz earlier this month claims that he too was linked to the scandal and allegedly pocketed over $7 million from the two.

An excerpt from the complaint read:

“As the 1MDB Fraud was underway, Jho Low became a well-known figure in the Hollywood scene and developed a reputation as a businessman with deep pockets and a penchant for hosting lavish, star-studded parties and group vacations…Throughout the early 2010s, Low befriended many U.S. celebrities including Dean and his wife Alicia Keys.”

It continued:

“Between September 21, 2012, and September 4, 2014, Jho Low and/or Eric Tan caused the debtors to transfer $7,300,000 to defendants and, during that same time period, the debtors did not receive any money back from the defendants or any other consideration from the defendants in exchange for the fraudulent transfers…Consequently, a net amount of $7,300,000 was conveyed from the debtors to the defendants.”

Alicia Keys, Swizz Beatz

The suit added that Alsen Chance of Alsen Chance Holdings Limited,

“gave $1.5 million to Swizz Beatz Productions Inc. in September 2012. Payments of $1 million and $800,000 were sent in October 2012… Affinity sent $800,000 to Swizz Beatz’s Monza Studios in November 2013 and $1 million in December 2013. Swizz Beatz received $500,000 in June 2014, $300,000 in July 2014, and $1.4 million in September 2014.”

The plaintiffs are reportedly suing for $3.3 million in damages from Swizz Beatz Productions, $2.2 million from the producer himself, and $1.8 million from Monza Studios. They also requested attorney’s fees and other court costs be covered.

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[VIA]