What better way finance a movie depicting the fraud and douchebaggery of Wall Street than to actually fund it using dirty money, am I right? The producer of The Wolf of Wall Street, Red Granite Pictures, was thought to be a new startup in the film industry, backed by Middle Eastern investors and Middle Eastern money.
However, in seemingly Jordan Belfort-esque fashion, investigators allege that the company received its funding to film the movie from money that was diverted from a Malaysian fund that was meant to boost the country’s economy.
From The Wall Street Journal:
“The fund, 1Malaysia Development Bhd., or 1MDB, was set up seven years ago by the prime minister of Malaysia, Najib Razak. His stepson, Riza Aziz, is the chairman of Red Granite Pictures […]Investigators in two countries believe that $155 million originating with 1MDB moved into Red Granite in 2012 through a circuitous route involving offshore shell companies, said people familiar with the probes. This same money trail also is described by a person familiar with 1MDB’s dealings and supported by documents reviewed by the Journal.”
Fake offshore companies, deceptive business deals — sounds a lot like someone just forgot to get out of character when drawing up their financing plans. All the executives at Red Granite Pictures had to do was read the ending of their movie script to learn that committing fraud actually gets you sent to jail, but hey, live and learn.
The investigation is still ongoing, but luckily for our boy Leo, it appears as though the questionable money arrived prior to his involvement in the film..
[via The Wall Street Journal ]
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