Malaysia settles 1MDB case against Wolf of Wall Street producer

Malaysian prosecutors on May 14 said they have settled a case against Riza Aziz, stepson of the country’s disgraced ex-leader Najib Razak, for his role as the producer of Oscar-nominated Hollywood movie The Wolf of Wall Street which was allegedly financed with embezzled money from Malaysia’s state investment fund 1Malaysia Development Berhad (1MDB).

Riza Aziz had been accused of receiving almost $250 million in 2011 and 2012 in illegal proceeds that came from 1MDB. The money was sent to bank accounts of Hollywood production company Red Granite Pictures, which Riza Aziz co-founded. He was arrested last July.

As part of the deal, Malaysia is set to recover $107.3 million of overseas assets involved in the case and Riza is required to pay a settlement amount of “a substantial sum running into several million ringgit,” according to the Malaysian Anti-Corruption Commission.

The judge agreed to give Riza Aziz a discharge after he agreed to the settlement with the government, but noted that this did not mean an acquittal.

Aziz faced five counts of money laundering for receiving 1MDB money for Red Granite Pictures. He reached a $60-million settlement with the US Justice Department earlier.

Aside from The Wolf of Wall Street, which was about a huge financial scam and starred actor Leonardo DiCaprio, Red Granite also produced the Jim Carrey movie Dumb and Dumber To and the comedy Daddy’s Home.



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Malaysian prosecutors on May 14 said they have settled a case against Riza Aziz, stepson of the country’s disgraced ex-leader Najib Razak, for his role as the producer of Oscar-nominated Hollywood movie The Wolf of Wall Street which was allegedly financed with embezzled money from Malaysia’s state investment fund 1Malaysia Development Berhad (1MDB). Riza Aziz had been accused of receiving almost $250 million in 2011 and 2012 in illegal proceeds that came from 1MDB. The money was sent to bank accounts of Hollywood production company Red Granite Pictures, which Riza Aziz co-founded. He was arrested last July. As part of...

Malaysian prosecutors on May 14 said they have settled a case against Riza Aziz, stepson of the country’s disgraced ex-leader Najib Razak, for his role as the producer of Oscar-nominated Hollywood movie The Wolf of Wall Street which was allegedly financed with embezzled money from Malaysia’s state investment fund 1Malaysia Development Berhad (1MDB).

Riza Aziz had been accused of receiving almost $250 million in 2011 and 2012 in illegal proceeds that came from 1MDB. The money was sent to bank accounts of Hollywood production company Red Granite Pictures, which Riza Aziz co-founded. He was arrested last July.

As part of the deal, Malaysia is set to recover $107.3 million of overseas assets involved in the case and Riza is required to pay a settlement amount of “a substantial sum running into several million ringgit,” according to the Malaysian Anti-Corruption Commission.

The judge agreed to give Riza Aziz a discharge after he agreed to the settlement with the government, but noted that this did not mean an acquittal.

Aziz faced five counts of money laundering for receiving 1MDB money for Red Granite Pictures. He reached a $60-million settlement with the US Justice Department earlier.

Aside from The Wolf of Wall Street, which was about a huge financial scam and starred actor Leonardo DiCaprio, Red Granite also produced the Jim Carrey movie Dumb and Dumber To and the comedy Daddy’s Home.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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