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DOJ confirms wrapping up settlement with Red Granite
Published:  Sep 26, 2018 4:14 AM
Updated: 9:19 AM

The US Department of Justice (DOJ) has closed its case against Wolf of Wall Street producers Red Granite after it said the latter had satisfied the consent judgement by US courts.

A Sept 25 notice filed to the California district court by US attorneys and the DOJ's Money Laundering and Asset Recovery Section, which was sighted by Malaysiakini, stated that the case was closed upon receipt of a wire transfer of US$21 million recently.

"On Sept 20, 2018, upon the receipt of a wire transfer of $21,183,560.61 to the US government, the consent judgment issued on March 8, 2018 (Docket #143) has been satisfied in full and the case is closed," the notice read.

Red Granite was co-founded by Riza Aziz, the stepson of former prime minister Najib Abdul Razak, as well as businessperson Joey McFarland.

The film production company had been accused by the DOJ of using money stolen from 1MDB to finance films including The Wolf of Wall Street, Daddy's Home and Dumb and Dumber To.

Under a settlement reached on March 8, Red Granite was to pay the US$60 million in three instalments over a period of one year.

It was to pay US$30 million within 30 days of the settlement being reached, another US$20 million within 180 days of the first payment, and the final US$10 million within 180 days of the second payment.

This is in addition to an interest of two percent per annum on the unpaid portions until the payment is fully settled.

As for Riza, he is only allowed to draw a limited salary to cover his health insurance until full payment has been made.

Red Granite, however, did not admit liability or wrongdoing under the settlement.

It was reported yesterday that the company had taken a loan to pay off the settlement.

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Malaysiakini Team

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