Summary

  • The Kuala Lumpur High Court orders 1MDB to pay RM225,000 in legal costs to Riza Abdul Aziz, the stepson of former prime minister Najib Abdul Razak.

  • Judge Raja Ahmad Mohzanuddin Shah Raja Mohzan makes the order on the heels of the Malaysian sovereign wealth fund's withdrawal of a US$248 million lawsuit against the Hollywood producer.

The Kuala Lumpur High Court has ordered 1MDB to pay RM225,000 in legal costs to ex-premier Najib Abdul Razak's stepson Riza Abdul Aziz and his two companies.

Judge Raja Ahmad Mohzanuddin Shah Raja Mohzan this afternoon made the ruling following the Malaysian sovereign wealth fund's recent withdrawal of a US$248 million lawsuit against the Hollywood producer as well as Red Granite Pictures Inc and Red Granite Capital Limited.

On Feb 24, 1MDB's counsel Rabindra S Nathan told the civil court of his instructions to retract the lawsuit. No reasons were given over withdrawal of the action seeking to recover funds allegedly embezzled from the fund.

Riza’s lawyer Shafee Abdullah did not object to the withdrawal, with today set for hearing of costs.

The proceedings by 1MDB against Riza, Red Granite Pictures and Red Granite Capital began on Oct 16 last year.

‘Global settlement’ on the cards

Last month's proceedings saw MACC special operations director Zamri Zainul Abidin testifying for Riza and the other two defendants.

Zamri had reportedly testified that Riza received a discharge not amounting to an acquittal (DNAA) for five counts of money laundering for the same US$248 million.

Zamri also testified that in the representations sent to the Attorney-General’s Chambers, Riza and his lawyers said they would work towards a global settlement on the recovery of the US$248 million.

Red Granite Pictures, co-founded by Riza and American film producer Joey McFarland, had produced the Academy Award-winning "The Wolf of Wall Street" starring Leonardo DiCaprio, and other movies.

1MDB and its subsidiaries filed the lawsuit on May 7, 2021, against Riza and his two companies for purportedly receiving US$248 million in funds misappropriated from 1MDB, which they allegedly misused for personal gain including by financing film production and buying up various properties.

Counsel Tania Scivetti appeared for Riza and his two companies.

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