‘The Wolf of Wall Street’ producers to pay $60 million to U.S. in lawsuit settlement

KUALA LUMPUR (Reuters) – The business driving the 2013 film, “The Wolf of Wall Street”, agreed to fork out the United States govt $60 million to settle a civil lawsuit that sought to seize property allegedly bought with revenue stolen from a Malaysian condition fund.

FILE Photo – Producer Riza Aziz (L-R), cast users Leonardo DiCaprio, Margot Robbie, Jonah Hill and producer Joey McFarland get there for the U.K. Premiere of “The Wolf of Wall Road” at Leicester Sq., in London January 9, 2014. REUTERS/Paul Hackett

The film’s producer, Red Granite Photos, co-launched by the Malaysian key minister’s stepson, introduced last September that it had “reached a settlement in principle” with the U.S. govt, but did not reveal any sum at the time.

In accordance to a filing in a California court on Wednesday, the business also settled statements in opposition to its legal rights and pursuits in two other movies, “Daddy’s Home” and “Dumb and Dumber To”.

“We are glad to lastly place this make a difference driving us and look forward to refocusing all of our awareness again on our film enterprise,” Red Granite explained in a statement on the filing.

U.S prosecutors, pursuing their largest kleptocracy asset restoration initiative, had claimed the 3 movies had been financed by Red Granite making use of revenue misappropriated from 1Malaysia Development Berhad (1MDB), a condition fund launched in 2009 by Malaysian Primary Minister Najib Razak.

Even though Najib has not been the subject of any of the lawsuits, a quantity of his close associates, like stepson Riza Aziz, have been named by U.S. investigators.

Najib and Riza have persistently denied any wrongdoing.

The Malaysian key minister’s place of work did not answer to an emailed ask for from Reuters for remark.

Wednesday’s filing explained Red Granite would fork out the govt in 3 instalments: $30 million within 30 days, $20 million within the up coming 180 days, and the remaining $10 million within 180 days immediately after that.

Film studio Paramount Photos, which has held profits from “Daddy’s Home” whilst the case was pending, would release the money to a govt-controlled account.

The forfeiture match was component of a broader U.S. action to seize some $1.7 billion in property allegedly bought with money misappropriated from 1MDB.

The U.S. prosecutors had requested for the civil forfeiture satisfies to be place on keep last yr whilst they pursued a felony investigation. Past 7 days, the Justice Section requested a court to carry the keep so that the settlement could be arrived at.

Below the conditions of the settlement, Riza will draw no income from Red Granite throughout the payment interval, other than what is required to sustain health insurance plan protection.

The settlement also stipulates that the payment really should not be construed as “an admission of wrongdoing or liability on the component of Red Granite”.

The U.S. lawsuits have also sought to seize a $3.2-million Picasso portray, allegedly bought from 1MDB money and gifted to Hollywood actor Leonardo DiCaprio, the star of The Wolf of Wall Road.

DiCaprio has because turned about the portray to U.S. authorities.

Reporting by Rozanna Latiff Enhancing by Clarence Fernandez

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