“The Wolf of Wall Street” producer and stepson of Malaysias former prime minister pleaded not guilty on Friday to laundering $248 million from a state investment fund, becoming the third person in his family charged in the 1MDB fund scandal that helped end Najib Razaks government last year.
Riza Aziz was solemn as he appeared in court to be charged with receiving the illicit funds between 2011 and 2012 in the US and Singapore.
The charge sheets said the money was misappropriated from 1MDB and channeled into bank accounts of Rizas company Red Granite Pictures Inc., which produced films including the Martin Scorsese-directed film starring Leonardo DiCaprio.
The 2013 film was nominated for five Academy Awards, including best picture.
The money was transferred from Swiss bank accounts of two companies US investigators identified as being linked to 1MDB into Red Granites accounts in the United States and Singapore, according to the charge sheets describing the evidence.
Riza, 42, was released on bail. He was charged with five counts of money laundering and could face up to five years in prison, a fine or both, on each count if he is convicted.
Najib set up the 1MDB fund to finance development in Malaysia when he took office in 2009, but it accumulated billions in debts and US investigators allege at least $4.5 billion was stolen from the fund and laundered by Najibs associates.
Public anger over the alleged corruption contributed to the shocking election defeat of Najibs long-ruling coalition in May 2018, and the new government reopened investigations that had been stifled while Najib was in office.
Najib is currently on trial for alleged criminal breach of trust, abuse of power and money laundering linked to 1MDB. He denies the charges. His wRead More – Source
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