Malaysian Financial Scandal Surrounds Leo DiCaprio

Malaysian Financial Scandal Surrounds Leo DiCaprio

Malaysian Financial Scandal Surrounds Leo DiCaprio

Leonardo DiCaprio says he’s awaiting direction from the US Justice Department (DOJ) regarding any ill-gotten funds that may have supported his environmental foundation or Y 2013 film “The Wolf of Wall Street.”

The award winning actor released a statement through his representatives Tuesday saying he will return any gifts or donations connected to a Malaysian sovereign wealth fund, pending a fraud investigation of that fund by the US and other countries.

Court filings in connection with the investigations allege a complex money laundering scheme intended to enrich top-level officials of the Malaysian government-controlled wealth fund.

“Both Mr. DiCaprio and the Leonardo DiCaprio Foundation continue to be supportive of all efforts to assure that justice is done in this matter,” the statement said. “Mr. DiCaprio is grateful for the lead and instruction of the government on how to accomplish this.”

The Justice Department says that at least $3.5-B has been stolen from the wealth fund, known as 1MDB, by people close to Malaysian Prime Minister Najib Razak. Najib created the fund in Y 2009 shortly after he took office to promote economic development projects in the Asian nation, but the fund accumulated billions in debts over the years.

The Justice Department has initiated action to seize $1.3-B it says was taken from the fund to buy assets in the US, including luxury properties in New York and California, a $35-M jet plane, art by Vincent Van Gogh and Claude Monet, and financing of “The Wolf of Wall Street,” according to federal government complaints filed in Los Angeles in July.

The US government complaints also say that more than $700-M has landed in the accounts of “Malaysian Official 1.” They didn’t name the official, but appear to be referring to Mr. Najib.

The Justice Department complaints also do not mention Mr. DiCaprio by name, but make a reference to “Hollywood Actor 1,” who during his Golden Globe acceptance speech thanked “the entire production team” and singled out several people close to Mr. Najib implicated in the scandal as “collaborators” on the film.

Mr. DiCaprio won the Golden Globe for his “Wolf of Wall Street” performance.

The Justice Department complaints identify the collaborators by name, including Najib’s stepson, Riza Shahriz Abdul Aziz, who co-founded movie production company Red Granite Pictures. Besides “The Wolf of Wall Street,” other films produced by Red Granite include 2015’s “Daddy’s Home” and 2014’s “Dumb and Dumber To.”

Last week, a Swiss rain forest charity demanded that Mr. DiCaprio resign from his post as a United Nations “Messenger of Peace” if he does not disclose his financial ties to the Malaysian fund.

Mr. Najib has denies any wrongdoing since allegations of massive fraud in the fund erupted last year. He remains firmly in political control by clamping down on critics and because of unwavering support of most ruling party members.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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