United States: ‘Wolf of Wall Street’ Producer in Talks to Settle 1MDB Suit

Author(s): Edvard Pettersson | Date: May 17, 2017 | Language: English
Source: https://www.bloomberg.com/ | URL: https://goo.gl/47g4QZ | Type: Text

The producer of “The Wolf of Wall Street” is in talks with the U.S. Justice Department to settle a lawsuit alleging the movie was funded by money siphoned from a Malaysian state investment fund.
Lawyers for Red Granite Pictures Inc., which was co-founded by Riza Aziz, a stepson of Malaysian Prime Minister Najib Razak, and the U.S. on Tuesday asked a federal judge in Los Angeles to extend a deadline in the lawsuit so that they can “focus on their ongoing negotiations.”
The case against the 2013 Martin Scorsese picture is part of more than a dozen forfeiture lawsuits the U.S. filed last year against over $1 billion in assets allegedly acquired with money stolen from 1Malaysia Development Bhd. The assets include mansions in Beverly Hills, California, luxury condos in New York, and art work.