'Wolf of Wall Street' film company to pay $60M settlement

'Wolf of Wall Street' film company to pay $60M settlement

- in Entertianment

The production company behind the 2013 film “The Wolf of Wall Street” will pay the U.S. government $60 million to settle claims that it benefited from a massive Malaysian corruption scandal.

The deal between prosecutors and Red Granite Pictures Inc. was approved Thursday in a U.S. District Court in Los Angeles.

The case was part of an effort to recover more than $1 billion prosecutors said was stolen from a Malaysian-owned investment fund. The Department of Justice said the money-laundering scheme was intended to enrich top-level officials of the fund, including some close to Malaysian Prime Minister Najib Razak.

Money was diverted from the fund to buy properties in New York and California, a $35 million jet, art by Vincent Van Gogh and Claude Monet, and a $260 million yacht.

This film image released by Paramount Pictures shows Leonardo DiCaprio as Jordan Belfort in a scene from "The Wolf of Wall Street." The film was nominated for a Directors Guild award on Tuesday, Jan. 7, 2014. The winners will be announced on Jan. 25. (AP Photo/Paramount Pictures, Mary Cybulski)

Leonardo Di Caprio starred in the 2013 film “The Wolf of Wall Street,” which was produced by Red Granite Pictures.

 (Paramount Pictures via Associated Press)

Proceeds also went to fund movies by Red Granite Pictures, which was co-founded by the stepson of Razak.

The funds financed the Martin Scorsese-directed “The Wolf of Wall Street,” which starred Leonardo DiCaprio. The film production company said in a statement that it was happy to put the matter behind it so it could focus on filmmaking.

The case is the largest single action the Justice Department has taken under efforts to recover foreign bribery proceeds and embezzled funds and several other lawsuits are pending. Other countries including Singapore and Switzerland are conducting probes.

The Associated Press contributed to this report.


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