According to reports, Swizz Beatz’s money is looking funny. The famed producer, Verzuz co-founder, and loving husband to Alicia Keys has supposedly been named in an international fraud scandal.
Based on a lawsuit filing obtained by AllHipHop, Swizz Beatz received a whooping sum of $7.3 million in stolen funds connected to the 1Malaysia Development Berhad scandal (often referred to as 1MDB).
In the paperwork, it alleged that Swizz Beatz (real named Kasseem Dean) was tied back to Jho Low as far back as the 2010s. “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,” reads the suit. “Throughout the early 2010s, Low befriended many U.S. celebrities including Dean and his wife Alicia Keys. 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.”
The breakdown of funds supposedly sent to Dean include, a $1.5 million payment to Swizz Beatz Productions Inc. in September 2012 as well as a $1 million then additional $800,000 transfer deployed in October 2012 by Alsen Chance. In addition to that, Dean’s Monza Studios is accused of receiving $800,000 in November 2013 and $1 million in December 2013 from Affinity sent $800,000 to Swizz Beatz’s Monza Studios in November 2013 and $1 million in December 2013. Outside of that, the filing alleged that Dean was personally sent $500,000 in June 2014, $300,000 in July 2014 and $1.4 million in September 2014.
Now, liquidators are seeking damages in the amount of $3.3 million from Swizz Beatz Productions, $1.8 million from Monza Studios, and then $2.2 million from Dean himself. The filer is also demanding that Dean cover attorneys’ fees and other court costs. Swizz Beatz has not yet addressed the lawsuit.
In April 2023, Pras Michel (of hip-hop trio Fuguees) was found guilty of several counts of money laundering in connection with the scandal. Despite his conviction, Michel maintains his innocence.