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Money laundering charges for 'Wolf of Wall St' producer

Video Credit: Reuters Studio - Duration: 01:36s - Published
Money laundering charges for 'Wolf of Wall St' producer

Money laundering charges for 'Wolf of Wall St' producer

Malaysia on Friday charged one of the "Wolf of Wall Street" film producers, and stepson of former prime minister Najib Razak, with money laundering, alleging he misappropriated $248 million linked to state fund 1MDB.

Ed Giles reports.

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Malaysia has charged the producer of a major Hollywood film with money laundering.

Riza Aziz was one of the producers of the Wolf of Wall Street and co-founder of Red Granite Pictures, the Hollywood firm behind the film.

Riza was arrested on Thursday (July 4) and appeared at a Malaysian court on five charges of money laundering on Friday (July 5).

He's also the stepson of former Malaysian Prime Minister Najib Razak.

Malaysian prosecutors allege Riza misappropriated nearly 250 million dollars linked to state fund 1MDB.

Riza has plead not guilty to all charges with each charge carrying a penalty of just over 1.2 million dollars and a maximum jail term of five years.

The court granted him bail and asked Riza to surrender his passports.

Former PM Najib founded 1MDB in 2009 and himself faces 42 criminal charges related to huge losses at the fund and other state entities.

The charges were slapped on Najib after he unexpectedly lost an election to his rival Mahathir Mohamad last year.

The U.S. Justice Department has estimated a total of 4.5 billion dollars was misappropriated from 1MDB between 2009 and 2014.

The fund's being investigated in at least six countries for alleged money laundering and graft including Singapore and Switzerland.

And U.S. prosecutors say Red Granite financed three films using money they suspect was stolen from 1MDB.




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