In an unusual move, federal prosecutors have agreed to name the CFO of Red Granite Pictures as an “independent” fiduciary overseeing the company, while both sides seek to settle a massive corruption case.
Red Granite is accused of using funds stolen from 1Mdb, a Malaysian development fund, to finance “The Wolf of Wall Street,” “Dumb and Dumber To,” and “Daddy’s Home.” The company’s CEO, Riza Aziz, is the stepson of the Malaysian prime minister. Prosecutors are seeking to seize Red Granite’s profits from the films on behalf of the Malaysian people.
In total, the government alleges that $4.5 billion was looted from 1Mdb to buy a yacht, luxury real estate, jewelry, and fine art. Last week, the government gave notice that it would seek to put the civil forfeiture cases on hold so as not to jeopardize the cooperation of foreign law enforcement agencies in an ongoing criminal probe.
Related...
Red Granite is accused of using funds stolen from 1Mdb, a Malaysian development fund, to finance “The Wolf of Wall Street,” “Dumb and Dumber To,” and “Daddy’s Home.” The company’s CEO, Riza Aziz, is the stepson of the Malaysian prime minister. Prosecutors are seeking to seize Red Granite’s profits from the films on behalf of the Malaysian people.
In total, the government alleges that $4.5 billion was looted from 1Mdb to buy a yacht, luxury real estate, jewelry, and fine art. Last week, the government gave notice that it would seek to put the civil forfeiture cases on hold so as not to jeopardize the cooperation of foreign law enforcement agencies in an ongoing criminal probe.
Related...
- 8/14/2017
- by Gene Maddaus
- Variety - Film News
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