DiCaprio to return possible 1MDB gifts

DiCaprio to return possible 1MDB gifts

LOS ANGELES: Almost three months after the US Department of Justice (DoJ) connected Leonardo DiCaprio and his environmental charity to the multibillion-dollar Malaysian corruption scandal, a spokesman for the star has finally spoken out on the issue.

“Several months ago in July, DiCaprio first learned through press reports of the government’s civil action against some of the parties involved in the making of The Wolf of Wall Street,” a statement on Tuesday claimed.

“He immediately had his representatives reach out to the Department of Justice to determine whether he or his foundation, the Leonardo DiCaprio Foundation (LDF), ever received any gifts or charitable donations directly or indirectly related to these parties, and if so, to return those gifts or donations as soon as possible. All contact was initiated by DiCaprio and the LDF.”

The foundation is alleged to have received several million dollars in donations from money that had been diverted from 1Malaysia Development Bhd (1MDB).

At the actor’s birthday party in 2013, the controversial Malaysian businessman Jho Low, a former close associate of DiCaprio’s and now at the centre of the DoJ investigation, together with Joey McFarland, the co-founder of Red Granite Pictures, which financed The Wolf of Wall Street, were among those who reportedly helped raise more than US$3 million for the charity by buying marked-up bottles of champagne.

Earlier in 2013, diverted 1MDB funds were alleged by the DoJ complaint to have been used by Low to purchase a pair of artworks (for a total of US$1.1 million) by Ed Ruscha and Mark Ryden at a Christie’s auction benefiting the LDF (one of many buys during a spending spree that shook the art world). And at the glittering St Tropez auction held in 2015, with the likes of David Geffen, Paul Allen, Tom Barrack and Harvey Weinstein in attendance, Low offered the LDF a sculpture by Roy Lichtenstein, 1982’s ‘Brushstroke’, valued at roughly US$700,000.

There have been growing calls for DiCaprio to not just return the money that went into his foundation, but also his fees as star in and producer of The Wolf of Wall Street, estimated to be more than US$25 million. Last week, the Bruno Manser Fonds rainforest charity directly linked the corruption scandal with deforestation in Malaysia, saying that if DiCaprio did not return the money he should step down from his position as UN Messenger of Peace with a focus on climate change.

The statement from DiCaprio’s camp added that the star and the charity were “entirely supportive of all efforts to assure that justice is done in this matter”, and that the actor was “grateful for the lead and instruction of the government” on how to achieve this.

It concluded that DiCaprio’s silence on the matter so far was “out of respect for its ongoing investigation, which has touched many charities, hospitals and individuals, who may have been unwitting recipients of funds now in question,” confirming that he would “continue to limit his statements” on the matter. — Bloomberg

DiCaprio to return possible 1MDB gifts
By Bloomberg
October 20, 2016 – The Edge Financial Daily


0 Responses to “DiCaprio to return possible 1MDB gifts”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

What happened to 1MDB’s money? – CNBC Video
Nuclear lessons for Malaysia (Part 1) (Part 2)
BN govt is directing attention to distant past and distant future, in order to distract people from present misdeeds and poor governance
Felda - A picture is worth a thousand words
How the 1MDB Scandal Spread Across the World (WSJ)
We cannot afford ridiculously expensive RM55 Billion ECRL!
All that is necessary
for the triumph of evil
is for good men
to do nothing.

- Edmund Burke
When the people
fears their government,
there is TYRANNY;
when the government
fears the people,
there is LIBERTY.

- Thomas Jefferson
Do you hear the people sing?



%d bloggers like this: