‘The Wolf of Wall Street’ producers to pay $60 million to settle US lawsuit

Source: The Wolf of Wall Street

Personal finance expert Peter Dunn gives advice to a chronic overspender on how to be less like Leonardo DiCaprio’s character in ‘The Wolf of Wall Street.’

Najib and Riza have consistently denied any wrongdoing.

The Malaysian prime minister’s office did not respond to an emailed request from Reuters for comment.

Wednesday’s filing said Red Granite would pay the government in three instalments: $30 million within 30 days, $20 million within the next 180 days, and the final $10 million within 180 days after that.

Film studio Paramount Pictures, which has held profits from “Daddy’s Home” while the case was pending, would release the funds to a government-controlled account.

The forfeiture suit was part of a broader U.S. action to seize some $1.7 billion in assets allegedly bought with funds misappropriated from 1MDB.

The U.S. prosecutors had asked for the civil forfeiture suits to be put on hold last year while they pursued a criminal investigation. Last week, the Justice Department asked a court to lift the stay so that the settlement could be reached.

Under the terms of the settlement, Riza will draw no salary from Red Granite during the payment period, other than what is needed to maintain health insurance coverage.

The settlement also stipulates that the payment should not be construed as “an admission of wrongdoing or liability on the part of Red Granite”.

The U.S. lawsuits have also sought to seize a $3.2-million Picasso painting, allegedly bought from 1MDB funds and gifted to Hollywood actor Leonardo DiCaprio, the star of The Wolf of Wall Street.

DiCaprio has since turned over the painting to U.S. authorities.