The Wolf Of Wall Street Just Can't Catch A Break On Lawsuits

Lawrence Kim
January 24, 2020

Worldwide media Reuters, reported that Jordan Belfort who was the inspiration behind the 2013 hit film "Wolf of Wall Street", yesterday (Jan 23), had filed the lawsuit saying Red Granite lied to him when he first agreed to sell them his rights.

Former stockbroker Jordan Belfort has sued former prime minister Datuk Seri Najib Razak's stepson, Riza Shahriz Abdul Aziz, in the USA for allegedly deceiving him about the source of funds used to finance the Wolf of Wall Street movie. Jordan Belfort's lawyer said in a statement that the issue has "significantly damaged" Belfort and has asked that the production company cuts its ties with him.

Belfort sold his life story to Red Granite Pictures, whose CEO is now facing corruption charges in Malaysia for allegedly embezzling more than $200 million, Variety reported.

Belfort filed his lawsuit in Los Angeles, California yesterday, naming Red Granite Pictures as the respondent. Belfort sold Red Granite the rights to his memoir and the sequel, "Catching the Wolf of Wall Street".

Red Granite was among entities named in the U.S. anti-kleptocracy action related to 1MDB and voluntarily surrendered US$57 million to the country's Justice Department in a settlement deal. The suit names West Hollywood-based Red Granite and its co-founder Riza Aziz, stepson of former Malaysian Prime Minister Najib Razak, as defendants.

According to the suit, Belfort believed Aziz when he said that Red Granite's money came from legitimate sources, including high-net worth individuals and Goldman Sachs.

The company's lawyer described Belfort's lawsuit as "desperate and supremely ironic".

Belfort was played by Leonardo DiCaprio in the film, which was was Oscar-nominated and a box office success.

Considering the spot Red Granite is now in with the Malaysian and US goverments, it's slim that Jordan Belfort will be getting the $300 million he's asked for in his lawsuit.

Red Granite fully financed "The Wolf of Wall Street", which was distributed by Paramount Pictures.

But years later, the movie became embroiled in a blockbuster Department of Justice case, in which prosecutors alleged that Malaysian government officials and their associates stole more than $4.5 billion from the fund between 2009 and 2015.

Red Granite officials said they had no knowledge of receiving tainted funds. In March 2018, Red Granite agreed to pay $60 million to settle its part of the corruption case with the USA government.

Other reports by Click Lancashire

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