KUALA LUMPUR (Sept 16): The movie company that made “The Wolf of Wall Street”, and was co-founded by the Malaysian prime minister’s step son, has settled a civil lawsuit brought by the US government to seize assets allegedly bought with money stolen from a Malaysian state fund.

Red Granite Pictures announced the settlement in a filing at the federal Los Angeles court on Friday, without revealing any sum. US prosecutors, pursuing a kleptocracy asset recovery initiative, had claimed the 2013 film, directed by Martin Scorsese and starring Leonardo DiCaprio, was financed by Red Granite using funds stolen from 1Malaysia Development Berhad (1MDB). “The parties are pleased to inform the court that Red Granite and the government have reached a settlement in principle,” the filing stated.

See: Stolen 1MDB funds are focus of US criminal investigation

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook