1MDB Withdraws $248 Million Lawsuit Against Riza Aziz

1Malaysia Development Bhd (1MDB) has withdrawn its US$248 million civil lawsuit against Riza Aziz, the stepson of former Malaysian Prime Minister Najib Razak, and his production company, Red Granite Pictures. The lawsuit, which alleged misappropriation of funds used for film productions and real estate, was filed in 2021. The withdrawal occurred during a court session where no specific reason was provided, although it followed recent testimony from a Malaysian Anti-Corruption Commission (MACC) official regarding Riza's prior discharge not amounting to an acquittal for money laundering charges related to the same funds. Riza's legal team indicated that discussions were ongoing about a global settlement to recover the misappropriated funds. The judge has set a hearing for February 28 to address cost-related submissions from both parties. The case is part of the broader 1MDB scandal that has drawn international scrutiny and criminal investigations.