Print Edition - 2018-03-09 | Life & Style
The Wolf of Wall Street producers to pay $60m
-, LOS ANGELES
Mar 9, 2018-
The company behind the 2013 film, The Wolf of Wall Street, agreed to pay the United States government $60 million to settle a civil lawsuit that sought to seize assets allegedly bought with money stolen from a Malaysian state fund.
The film’s producer, Red Granite Pictures, co-founded by the Malaysian prime minister’s stepson, announced last September that it had “reached a settlement in principle” with the US government, but did not reveal any sum at the time.
According to a filing in a California court, the company also settled claims against its rights and interests in two other films, Daddy’s Home and Dumb and Dumber To.
“We are glad to finally put this matter behind us and look forward to refocusing all of our attention back on our film business,” Red Granite said in a statement on the filing.
US prosecutors, pursuing their biggest kleptocracy asset recovery initiative, had claimed the three films were financed by Red Granite using money misappropriated from 1Malaysia Development Berhad (1MDB), a state fund founded in 2009 by Malaysian Prime Minister Najib Razak.
While Najib has not been the subject of any of the lawsuits, a number of his close associates, including stepson Riza Aziz, have been named by US investigators. Najib and Riza have consistently denied any wrongdoing. The US lawsuits have also sought to seize a $3.2-million Picasso painting, allegedly bought from 1MDB funds and gifted to Hollywood actor Leonardo DiCaprio, the star of The Wolf of Wall Street.
DiCaprio has since turned over the painting to US authorities.
Published: 09-03-2018 08:50