Federal MP Clive Palmer will defend himself in a Brisbane court on Wednesday against allegations he misappropriated $12 million from two Chinese-owned companies.

CITIC Pacific are suing Mr Palmer and his company Cosmo Developments over claims $12.167 million was redirected from a fund to run a WA port into his political campaign.

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Mr Palmer told the media on Wednesday that he denies any wrongdoing, labelling the court case a politically motivated attack orchestrated by his enemies in the Liberal Party, News Limited and China.

“It is just a witch-hunt because of my political views,” he said.

“It is a bit of a beat-up.”

The WA Police fraud squad is also investigating the allegations.

Mr Palmer questioned why WA Police were investigating if the alleged fraud took place in Queensland.

In a statement, Mr Palmer also blamed the Chinese government.

“The Chinese Government wants to control Australian resources. Without Australian iron ore, China can’t survive,” he said.

The trial, which begins on Wednesday and is set down for three days in the Supreme Court in Brisbane, will centre on whether Mr Palmer committed a breach of trust.