JORDAN Belfort, the real-life convicted stockbroker who served as inspiration behind Martin Scorsese’s The Wolf of Wall Street, is suing Red Granite Pictures, the production firm owned by Najib Razak’s stepson, Riza Aziz, reports the Los Angeles Times.
Belfort filed a US$300 million (RM1.23 billion) suit yesterday alleging that he was a victim of fraud following revelations that the film was funded by proceedes stolen from state fund 1Malaysia Development Bhd.
Leonardo DiCaprio, star of The Wolf of Wall Street, bought the story rights in 2007 but the movie was only made six years later when Red Granite Pictures, headed by Riza, provided funding.
Riza is currently facing corruption charges in Malaysia for allegedly embezzling US$248 million from 1MDB.
Belfort, who was jailed for 22 months after he was found guilty of defrauding investors out of US$200 million in the early 1990s, said the 1MDB scandal has tainted the rights to his story.
Red Granite also bought the rights to the sequel, Catching the Wolf of Wall Street, which Belfort claims the producers can no longer capitalise on as a result of criminal proceedings against Riza.
Riza was arrested by the MACC in July and faces money-laundering charges.
Red Granite paid US$60 million to the US Department of Justice (DoJ) in March 2018 to settle claims it produced three films using funds siphoned off 1MDB.
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January 24, 2020 at 03:07PM
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