‘Wolf of Wall Street’ producer charged with IMDB money laundering

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‘Wolf of Wall Street’ producer charged with IMDB money laundering

On Friday, the 5th of July, Malaysia had filed lawsuit against one of the producers of the blockbuster film “Wolf of Wall Street,” and stepson of former Malaysian Prime Minister Najib Razak, accusing the Hollywood producer of money laundering and claiming that the film producer had allegedly pocketed about $248 million linked to the Malaysia’s state-controlled fund, 1Malyasia Development Berhad (1MDB).

In fact, Riza Aziz, a co-founder of Hollywood’s Red Granite Pictures, which was behind the Oscar-nominated film, “The Wolf of Wall Street,” had been charged by five lawsuits on alleged funneling of money from the Malaysian state-controlled fund.

Besides, prosecutors in Malaysia had claimed that Riza misappropriated about $248 million of the 1MDB fund. Each of the five charges might result in a financial penalty of up to $1.21 million or a detention of up to five years.

Nonetheless, Riza pleaded ‘not guilty’ against all of the charges filed against him, while a court in Malaysia had granted a one-million-ringgit bail earlier and ceased his passport. As a matter of fact, after losing a national election to former President Mahathir Mohammad on May last year, which came as a shock to many, Najib had been snapped with a series of alleged corruptions, most of which were tied up to the now-defunct 1Malaysia Development Fund (1MDB).