Swizz Beatz is pushing back against claims that he pocketed $7.3 million in stolen 1MDB funds, insisting the money was legitimate business income tied to his music ventures, not proceeds from Malaysia’s massive corruption scandal.
Attorneys for the Grammy-winning producer rejected accusations that he knowingly received “fraudulent transfers” from shell companies tied to fugitive financier Jho Low.
The suit, filed by British Virgin Islands liquidators representing defunct entities that prosecutors say were used to divert Malaysian state funds, seeks to recover millions allegedly routed to Dean, his company Swizz Beatz Productions Inc., and another entity, Monza Studios Inc., between 2012 and 2014.
Dean admits receiving several transfers totaling $7.3 million but denies any wrongdoing. His lawyers say the funds were payments for professional services and investments, not bribes or laundered assets.
One transaction, a $1.5 million transfer, was explicitly labeled “Alsen Chance investment in music production (Everyday Is Your Birthday),” a description Dean’s team says proves the deal had a clear business purpose.
“Defendants deny such funds were fraudulently or improperly transferred,” the filing states, arguing that all payments were “received without actual fraudulent intent and for reasonably equivalent value.” The payments reportedly moved through JPMorgan Chase accounts in New York between September 2012 and September 2014.
According to the response, $3.3 million went to Swizz Beatz Productions, $1.8 million to Monza Studios, and $2.2 million to Dean personally.
Dean’s lawyers at Blank Rome LLP maintain that their client had no knowledge of the 1MDB scheme or the origins of the money. They frame him as an innocent business partner whose name is being dragged into a global scandal years after the fact.
The filing also reveals Dean’s limited connection to Jho Low, admitting he met the Malaysian financier in the 2010s but denying any friendship or involvement in his affairs.
“Dean was introduced to Low but deny Low and Dean were friends,” the document states.
The 1MDB fraud, one of the largest embezzlement scandals in history, saw billions stolen from Malaysia’s sovereign wealth fund and laundered through luxury real estate, art, and entertainment ventures.
Low, who remains a fugitive, is accused of funneling money to celebrities, movie producers, and art dealers as part of a global web of corruption. Dean previously surfaced in the 1MDB saga when the U.S. Department of Justice moved to seize an Andy Warhol painting connected to Low.
Dean agreed to surrender the artwork in 2020 but did so “without admission of liability,” according to court records. The contrast between Dean’s civil case and the criminal fallout for others linked to Low’s network is striking.
Michel was convicted last year of operating as an unregistered foreign agent and conspiring with Low to influence U.S. officials on the financier’s behalf.
