October 2024 trial for ‘Wolf of Wall Street’ producer Riza Aziz

October 2024 trial for ‘Wolf of Wall Street’ producer Riza Aziz

1MDB and its subsidiaries are suing Najib Razak's stepson and his production companies for knowingly receiving misappropriated funds.

Riza Aziz claims that the funds he received were a loan from the Saudi royal family or International Petroleum Investment Company, and not from 1MDB.
KUALA LUMPUR:
The High Court here has set Oct 16 to Nov 4 next year to hear 1MDB’s lawsuit against film producer Riza Aziz and his production companies, in a bid to recover about US$250 million (RM1.1 billion) from them.

Riza is the stepson of former prime minister Najib Razak.

Judicial commissioner Raja Ahmad Mohzanuddin Shah Raja Mohzan will preside over the trial after taking over the case from Justice Amarjeet Singh.

The suit was brought by 1MDB and its subsidiaries against Riza and his production companies, including Red Granite, alleging that they had wrongfully received and misused the money for their personal benefit, including to fund movie productions and purchase real estate.

They also contended that Riza, as the companies’ owner, knew that the money, which originated from 1MDB, had been misappropriated.

In his defence, Riza, who produced the hit movie “Wolf of Wall Street” starring Leonardo DiCaprio, claimed the funds were a loan from the Saudi royal family or International Petroleum Investment Company, and not from 1MDB.

He further said it was hard for an unknown film producer to obtain loans from banks, which compelled him to seek funds from individuals or companies.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.