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    “Wolf of Wall Street” film company to pay $60M settlement

    By SHOOTUpdated:No Comments3819 Views
    A scene from "The Wolf of Wall Street" (photo from Paramount Pictures)
    LOS ANGELES (AP) --

    The production company behind "The Wolf of Wall Street" has agreed to pay the U.S. government $60 million to settle claims it benefited from a massive Malaysian corruption scandal.

    The settlement between prosecutors and Red Granite Pictures Inc. was approved Thursday in U.S. District Court in Los Angeles.

    The case was part of an effort to recover more than $1 billion prosecutors said was stolen from 1MDB, a Malaysian-owned investment fund. The Department of Justice said the complex money laundering scheme was intended to enrich top-level officials of the fund, including some close to Malaysian Prime Minister Najib Razak.

    Money was diverted from the fund to buy properties in New York and California, a $35 million jet, art by Vincent Van Gogh and Claude Monet, and a $260 million yacht.

    Proceeds also went to fund movies by Red Granite Pictures, which was co-founded by the stepson of Razak.

    The funds financed the Martin Scorsese-directed "The Wolf of Wall Street," which starred Leonardo DiCaprio in a film about the excesses of a crooked stock trader. The settlement also included forfeiture claims to the rights of "Dumb and Dumber To" and "Daddy's Home."

    The film production company said in a statement that it was happy to put the matter behind it so it could focus on filmmaking.

    The 1MDB case is the largest single action the Justice Department has taken under efforts to recover foreign bribery proceeds and embezzled funds and several other lawsuits are pending. Other countries including Singapore and Switzerland are conducting probes.

    Tags:Red Granite PicturesThe Wolf of Wall Street



    Netflix signs U.S. broadcast deal with FIFA for the Women’s World Cup in 2027 and 2031

    Friday, December 20, 2024
    Spain's Aitana Bonmati celebrates after scoring a goal, during the women's Group C match between Spain and Japan, at La Beaujoire Stadium, during the 2024 Summer Olympics Thursday, July 25, 2024, in Nantes, France. (AP Photo/Jeremias Gonzalez, File)

    Netflix has secured the U.S. broadcasting rights to the Women's World Cup in 2027 and 2031 as the streaming giant continues its push into live sports.

    The deal announced Friday is the most significant FIFA has signed with a streaming service for a major tournament. The value was not given, though international competitions in women's soccer have struggled to draw high-value offers.

    "Bringing this iconic tournament to Netflix isn't just about streaming matches," its chief content officer Bela Bajaria said in a statement. "It's also about celebrating the players, the culture and the passion driving the global rise of women's sport."

    Netflix dipped into live sports last month with more than 60 million households watching a heavily hyped boxing match between retired heavyweight legend Mike Tyson and social media personality Jake Paul. Some viewers reported streaming problems, however.

    Netflix also will broadcast two NFL games on Christmas Day: the Kansas City Chiefs at the Pittsburgh Steelers and Baltimore Ravens at the Houston Texans. That's part of a three-year deal announced in May.

    World Cups are typically broadcast on free-to-air public networks to reach the biggest audiences, and the last women's edition in 2023 earned FIFA less than 10% of the men's 2022 World Cup.

    FIFA president Gianni Infantino had publicly criticized public broadcasters, especially in Europe, for undervaluing offers to broadcast the 2023 tournament that was played in Australia and New Zealand. That tournament was broadcast by Fox in the U.S.

    "This agreement sends a strong message about the real value of the FIFA Women's World Cup and the global women's game," Infantino said.

    The World Cup rights mark another major step in Netflix's push... Read More

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