Malaysia to recover US$107.3 million after settling 1MDB case against Wolf of Wall Street producer

Malaysia to recover US$107.3 million after settling 1MDB case against Wolf of Wall Street producer

Riza Aziz, one of the producers of 'The Wolf of Wall Street' and stepson of
Riza Aziz, one of the producers of The Wolf of Wall Street and stepson of Malaysia's disgraced ex-leader Najib Razak, was accused of receiving US$250 million from 1MDB. (Photo: AFP/Mohd Rasfan)

KUALA LUMPUR: Malaysian prosecutors on Thursday (May 14) dropped money laundering charges linked to the 1Malaysia Development Berhad (1MDB) scandal against one of the producers of Hollywood hit The Wolf of Wall Street after he agreed a settlement with the government.

Malaysia's anti-corruption commission said it will recover overseas assets worth about US$107.3 million in the deal with Riza Aziz, who is also the stepson of the country's disgraced ex-leader Najib Razak.

Riza Aziz was arrested in July for allegedly receiving nearly US$250 million from Malaysia's sovereign wealth fund 1MDB.

READ: ‘Rosmah wasn’t scolding me’: Najib on leaked audio clips related to 1MDB scandal

Billions of dollars were looted from the fund and spent on everything from a yacht to pricey art in a huge fraud that spanned the globe, and allegedly involved Najib and his cronies.

But a judge agreed to give Riza Aziz a discharge not amounting to an acquittal - meaning the charges have been dropped - after he agreed a settlement with the government, prosecutor Ahmad Akram Gharib told AFP.

Riza Aziz had been accused of receiving US$248.17 million in 2011 and 2012 in illegal proceeds that came from 1MDB.

READ: Fugitive financier Jho Low denies being 'mastermind' behind 1MDB

The money was sent to bank accounts of Hollywood production company Red Granite Pictures, which Riza Aziz co-founded.

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

Najib was voted out of power in 2018 in large part due to public anger at the 1MDB scandal, and has since been put on trial over the mammoth fraud. He denies any wrongdoing.

The alliance that ousted Najib, led by 94-year-old Mahathir Mohamad, reopened investigations into the scandal and started clawing back looted money.

READ: US returns US$300m of 1MDB funds to Malaysia

But Mahathir's government itself lost power earlier this year and was replaced by an administration that includes Najib's party, raising questions about whether criminal proceedings linked to the controversy will continue.

Source: AFP/zl

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