Jordan Belfort, the inspiration for the film The Wolf of Wall Street, is suing the producers of the film (Red Granite) for $300 million in a fraud lawsuit.
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Belfort claims the film was funded with cash from 1Malaysia Development Berhad, whereas he was told it would be financed by “legitimate high-net-worth individuals and companies, including Goldman Sachs,” as described by The Hollywood Reporter.
Red Granite co-founder Riza Aziz has been accused of taking $700 million from 1MDB into his personal bank accounts. Aziz is facing jail-time in Malaysia.
Belfort’s lawyer told THR: “Red Granite and its principals did not disclose to Mr. Belfort that they were using funds obtained from engaging in racketeering and other criminal activity … Had Mr. Belfort known those facts, he would have never agreed to enter into this contract.”
Belfort is attempting to cancel his contract with Red Granite: “Belfort is significantly damaged by Red Granite’s tainting of his book/story rights, coupled with Red Granite’s inability and/or refusal to exploit and maximize the rights acquired from Belfort … due to the highly publicized scandal,” his lawyer explains.
Red Granite’s lawyer Matthew L. Schwartz of Boies Schiller Flexner has responded in a statement sent to The Hollywood Reporter that you can find here.