PHOTO: Wikimedia Commons
THE High Court judge in Kuala Lumpur has ordered 1Malaysia Development Bhd (1MDB) to pay RM225,000 in legal costs to Riza Abdul Aziz, the stepson of former Prime Minister Najib Razak, and his two companies.
This ruling follows the withdrawal of a US$248 million civil suit against Riza, Red Granite Pictures Inc, and Red Granite Capital Ltd last month, as reported by The Star.
The suit, which was filed by 1MDB and its subsidiaries on May 7, 2021, alleged that Riza and his companies had misappropriated funds for personal use, including financing films and purchasing properties. However, on February 24, 1MDB’s lawyer, Rabindra S. Nathan, informed the court that he had received instructions to withdraw the action without providing a reason.
During the trial, which commenced in October last year, 1MDB presented several witnesses, including former 1MDB CEO Shahrol Azral Ibrahim Halmi and former General Counsel Jasmine Loo.
The defence called Malaysian Anti-Corruption Commission Special Operations Division director Mohamad Zamri Zainul Abidin as their sole witness.
Zamri testified that Riza had received a discharge not amounting to an acquittal in May 2020 for money laundering charges related to the same funds, following a global settlement agreement with the government.
Riza’s lawyer, Muhammad Farhan Shafee, confirmed the court’s ruling on the legal costs.
The withdrawal of the suit has raised questions about the reasons behind 1MDB’s decision, which remain unclear.
-BTS Media
