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The producers of hit Hollywood film The Wolf of Wall Street have agreed to pay back $60m to the US government after allegations the film was funded with money stolen from a Malaysian state investment fund.
A New York stockbroker refuses to cooperate in a large securities fraud case involving corruption on Wall Street, corporate banking world and mob infiltration. Based on Jordan Belfort's autobiography. Mar 7, 2018 - The producers of hit Hollywood film The Wolf of Wall Street have agreed to. Our journalism is free from commercial bias and not influences.
Last year, Red Granite Pictures was implicated in the scandal, in which $3.5bn (£2.5bn) from the government-run 1MDB fund is alleged to have found its way into the bank accounts of associates of Malaysian prime minister, Najib Razak, to be used for lavish expenses and investments across the world.
Red Granite was co-founded by Riza Aziz, Najib’s stepson. It was alleged to have used misappropriated 1MDB money to fund not only 2013’s Wolf of Wall Street, but also films Dumb and Dumber To, and Daddy’s Home.
The company denied the accusations but according to a California court filing on Wednesday has now agreed to pay the US government in three instalments: $30m within 30 days, $20m within the next 180 days, and the final $10m within 180 days after that.
The settlement stipulates that the payment should not be construed as “an admission of wrongdoing or liability on the part of Red Granite”.
Shortly thereafter she gets pregnant and it is then she finds out that Ajay is not who he claims to be, and may have been responsible for killing her husband. Kamini initially opposes this match, but subsequently relents and both get married. A new tenant, Ajay, comes to her rescue when she is molested by Bhavani's brother, both fall in love and decide to get married. After her husband, Ravi Malhotra, is killed, Sudha lives the life of a widow with her brother, Mahesh, and Bhabhi, Kamini.
“We are glad to finally put this matter behind us and look forward to refocusing all of our attention back on our film business,” Red Granite said in a statement on the filing.
Red Granite was a relative unknown before it stumped up $100m to help director Martin Scorsese make The Wolf of Wall Street. Three months after shooting began, Red Granite also gave the film’s star Leonardo DiCaprio a lavish birthday gift: the Oscar given to Marlon Brando for best actor in On the Waterfront, worth around $600,000. DiCaprio has since surrendered the statue as part of the 1MDB investigation.
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The filing against Red Granite is part of a larger US action to try to reclaim assets worth $1.7bn allegedly bought with 1MDB money.
Much of the 1MDB spending spree on hotels, fine art and yachts was alleged to have been carried out by Jho Low, a friend of Aziz. Low denies all the allegations as does Najib, who instigated an investigation in Malaysia that found no evidence of wrongdoing and resulted in no one being charged.
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Najib also alleges that the $681m of cash that ended up in his personal bank account was not from 1MDB but a gift from a Saudi prince.
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While the Malaysian government has tried to draw a line under the 1MDB case, US prosecutors have continued to pursue it. Sonar x3 producer. Just this week, the super yacht Equanimity – allegedly belonging to Jho Low and bought with 1MDB funds – was seized in Indonesia and is now being handed over to the US department of justice.
| Author | Jordan Belfort |
|---|---|
| Country | United States |
| Language | English |
| Genre | Non-fiction |
| Publisher | Bantam Books |
Publication date | September 25, 2007 |
| Media type | Print, e-book, audiobook |
| Pages | 528 pp. |
| ISBN | 978-0553805468 |
| Followed by | Catching the Wolf of Wall Street |
The Wolf of Wall Street is a memoir by former stockbroker and trader Jordan Belfort, first published in September 2007 by Bantam Books,[1][2] then adapted into a 2013 film of the same name (directed by Martin Scorsese and starring Leonardo DiCaprio as Belfort). Belfort's autobiographical account was continued by Catching the Wolf of Wall Street, published in 2009.
Overview[edit]
Belfort tells his real-life story of creating Stratton Oakmont, a brokerage house engaged in pump and dump schemes with penny stocks. The firm was shut down by regulators in the late 1990s, and Belfort was jailed for securities fraud. Multiple portions of the book are disputed by law agencies as either fictitious, exaggerated, or untrue to real events.[citation needed]
Reception[edit]
A reviewer of Publishers Weekly stated 'The book's main topic is the vast amount of sex, drugs and risky physical behavior Belfort managed to survive. As might be expected in the autobiography of a veteran con man with movie rights already sold, it's hard to know how much to believe. The story is told mostly in dialogue, with allegedly contemporaneous mental asides by the author, reported verbatim. But it reports only surface events, never revealing what motivates Belfort or any of the other characters'.[3] A reviewer of Kirkus Reviews added 'It is crass, certainly, and vulgar—and a hell of a read. Belfort displays dirty writing skills many basis points above his tricky ilk. His chronicle ends with his arrest for fraud. Now, with 22 months in the slammer behind him, he’s working on his next book. Entertaining as pulp fiction, real as a federal indictment'.[4]
See also[edit]
- Great Salad Oil Swindle by Norman Charles Miller
- Octopus by Guy Lawson
- Rogue Trader by Nick Leeson
References[edit]
- ^The Wolf of Wall Street by Jordan Belfort. amazon.com. ASIN0553805460.CS1 maint: ASIN uses ISBN (link)
- ^'The Wolf of Wall Street (The Wolf Of Wall Street #1) by Jordan Belfort (Goodreads Author)'. goodreads.com. Retrieved 2015-02-16.
- ^'The Wolf of Wall Street'. Publishers Weekly. Retrieved 13 February 2019.
- ^'THE WOLF OF WALL STREET by Jordan Belfort'. Kirkus Reviews. Retrieved 13 February 2019.
External links[edit]
- Jordan Belfort: In-depth interview with The Wolf of Wall Street on YouTube