The self-styled Wolf of Wall Street wants money back from the Hollywood blockbuster movie based on his life story – because of 1MDB.
Jordan Belfort, whose biography «The Wolf of Wall Street» was filmed by Martin Scorcese in 2014, is suing the production company behind the Hollywood blockbuster for $300 million, according to industry trade publication «Variety». Belfort claims he was victimized by the film's backer, Red Granite, a production company bankrolled by Malaysia corruption money.
The $4.5 billion corruption probe has ensnared a Malaysian leader, Goldman Sachs, numerous Swiss banks and private bankers as well as other «helpers». Termed «kleptocracy at its worst» by the top U.S. prosecutor, 1MDB revealed ties into the world of fine art, freeports, luxury real estate, and other illicit assets. The man allegedly behind the siphoning, Jho Low, remains AWOL – allegedly in China.
Swiss Banks, Goldman Ensnared
The co-head of Red Granite, Riza Aziz, who is the stepson of Malaysia's former long-standing Prime Minister, had told Belfort that the fledgling production firm's money came from wealthy individuals and Goldman Sachs. Belfort, who pleaded guilty to fraud in a penny stock scheme 20 years ago and served 22 months in jail, believed Aziz, the suit recounts.
When the role of 1MDB, a $4.5 billion graft scheme in Malaysia, in the film's financing blew open in 2016, Belfort was shocked, according to the suit. «Belfort was completely blindsided to learn, after the fact, of the source of funding for Red Granite and the film based on his book/story, as Defendants concealed these criminal acts and funding sources from him,» Variety reported from the filing.
Steering Clear of Trouble
Red Granite paid $60 million in a U.S. settlement over 1MDB two years ago. Aziz's stepfather, Najib Razak, was voted out in 2017 and is currently standing trial on money laundering charges. His wife, and Aziz's mother, Rosmah Mansor, was also charged.
These days, Belfort is a motivational trainer. Prosecutors allege that he still owes restitution and other penalties. «Had he known he certainly never would have sold the rights,» Variety said. Belfort's 15-page civil complaint alleges he learned of the 1MDB connection after the film's 2013 release.
Case Undermined?
His case appears to be somewhat undermined by an interview three years ago with finews.com. Then, Belfort seemed to brag about his ability to detect the whiff of criminal money before filming began – leading him to steer clear of a ritzy Las Vegas gambling junket planned, which included stars Leonardo DiCaprio and Margot Robbie.
«I said to Anne [Anne Koppe, Belfort's fiance], 'this is a fucking scam, anybody who does this has stolen money.' You wouldn't spend money you worked for like that,» Belfort said in the piece, referring to a pre-filming bash in Cannes, at which he said Kanye West performed.
Withering Rejection
Red Granite last released a film in 2018, shortly before Aziz returned to Malaysia to face the music. An attorney for the production company was withering in response to Belfort's claims.
«Jordan Belfort’s lawsuit is nothing more than a desperate and supremely ironic attempt to get out from under an agreement that for the first time in his life made him rich and famous through lawful and legitimate means,» Boies Schiller Flexner attorney Matthew Schwartz told «Variety».
