KUALA LUMPUR, Aug 27 — Lawyers for Riza Shahriz Abdul Aziz have applied to transfer his five charges of laundering US$248 million (RM1.2 billion at current rates) in alleged 1MDB funds to the High Court today.

Defence lawyer Syazwani Mohd Zawawi explained that the case was complex and would take an inordinate amount of time if it were to remain in the Sessions Court.

“This is because the charges faced by Riza are said to [take place] overseas; however, he is being charged here,” she was quoted as saying by The Edge Markets today.

The stepson of former prime minister Datuk Seri Najib Razak was charged on July 5 with receiving US$248 million between 2011 and 2012 that was allegedly misappropriated from 1MDB.

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Riza is accused of using the funds for the US movie production firm Red Granite Pictures, which he co-founded.

He claimed trial to all five charges proffered under Section 4(1)(a) of the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) that are each punishable by a maximum RM5 million fine, up to five years’ imprisonment, or any combination of the two.

While Riza’s five charges relate to transactions occurring outside of Malaysia, local laws against money-laundering allow for such offences to be prosecuted in Malaysian courts.

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