Friday, March 9, 2018|9:13 p.m.
LOS ANGELES– The production company behind “The Wolf of Wall Street” has actually consented to pay the U.S. government $60 million to settle claims it benefited from a huge Malaysian corruption scandal.
The settlement between district attorneys and Red Granite Pictures Inc. was authorized Thursday in U.S. District Court in Los Angeles.
The case belonged to an effort to recover more than $1 billion district attorneys stated was stolen from 1MDB, a Malaysian-owned investment fund. The Department of Justice said the intricate cash laundering scheme was intended to enhance high-level officials of the fund, including some close to Malaysian Prime Minister Najib Razak.
Cash was diverted from the fund to purchase residential or commercial properties in New york city and California, a $35 million jet, art by Vincent Van Gogh and Claude Monet, and a $260 million private yacht.
Proceeds likewise went to fund movies by Red Granite Pictures, which was co-founded by the stepson of Razak.
The funds funded the Martin Scorsese-directed “The Wolf of Wall Street,” which starred Leonardo DiCaprio in a movie about the excesses of an uneven stock trader. The settlement also included forfeiture claims to the rights of “Dumb and Dumber To” and “Daddy’s House.”
The film production business said in a statement that it enjoyed to put the matter behind it so it could concentrate on filmmaking.
The 1MDB case is the largest single action the Justice Department has actually taken under efforts to recover foreign bribery proceeds and embezzled funds and several other lawsuits are pending. Other countries consisting of Singapore and Switzerland are carrying out probes.