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Wednesday, July 24, 2024 | Back issues
Courthouse News Service Courthouse News Service

‘Wolf of Wall Street’ Film Company to Pay $60M Settlement

The production company behind "The Wolf of Wall Street" has agreed to pay the U.S. government $60 million to settle claims it benefited from a massive Malaysian corruption scandal.

LOS ANGELES (AP) — The production company behind "The Wolf of Wall Street" has agreed to pay the U.S. government $60 million to settle claims it benefited from a massive Malaysian corruption scandal.

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

The case was part of an effort to recover more than $1 billion prosecutors say was stolen from 1MDB, a Malaysian-owned investment fund.

Prosecutors say the money was diverted 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.

The funds also financed the Martin Scorsese-directed "The Wolf of Wall Street" and two other films.

Red Granite Pictures says it's glad the matter is over.

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