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US unveils new claims in 1MDB money laundering case US unveils new claims in 1MDB money laundering case
(about 4 hours later)
US authorities are moving to seize a Picasso painting, an apartment in Manhattan, and rights to a Jim Carrey movie as part of a global money laundering case.US authorities are moving to seize a Picasso painting, an apartment in Manhattan, and rights to a Jim Carrey movie as part of a global money laundering case.
The US alleges high-level officials stole more than $4.5bn from a Malaysian economic development fund.The US alleges high-level officials stole more than $4.5bn from a Malaysian economic development fund.
The items in the latest filing were allegedly purchased using $850m diverted from the 1MDB fund in 2014.The items in the latest filing were allegedly purchased using $850m diverted from the 1MDB fund in 2014.
The case has put pressure on Prime Minister Najib Razak.The case has put pressure on Prime Minister Najib Razak.
Mr Razak, who oversaw the fund, allegedly received millions in stolen money, though he returned most of it. He denies wrongdoing.Mr Razak, who oversaw the fund, allegedly received millions in stolen money, though he returned most of it. He denies wrongdoing.
"These cases involve billions of dollars that should have been used to help the people of Malaysia, but instead was used by a small number of individuals to fuel their astonishing greed," said Sandra Brown, an acting US attorney in California."These cases involve billions of dollars that should have been used to help the people of Malaysia, but instead was used by a small number of individuals to fuel their astonishing greed," said Sandra Brown, an acting US attorney in California.
"We simply will not allow the United States to be a place where corrupt individuals can expect to hide assets and lavishly spend money that should be used for the benefit of citizens of other nations.""We simply will not allow the United States to be a place where corrupt individuals can expect to hide assets and lavishly spend money that should be used for the benefit of citizens of other nations."
1MDB: The case that has riveted Malaysia1MDB: The case that has riveted Malaysia
In Thursday's filing, the US Department of Justice says officials used money from the fund to pay gambling debts at Las Vegas casinos, fund Hollywood films and invest in Fly Wheel Sports. The US has filed complaints to recover more than $1.7bn. The 1MDB fund has also spawned investigations in Singapore and Switzerland, among other countries.
The money was also used to pay for a diamond necklace for the wife of Malaysia official 1 - who has been revealed as Mr Razak - and to buy the Picasso still life, which was later given to actor Leonardo DiCaprio as a birthday gift, according to court papers. Where did the money go?
Mr DiCaprio said last year he would cooperate with the investigation. From 2009 through 2015, the US Department of Justice says officials and their associates used money from the fund to pay gambling debts at Las Vegas casinos, fund Hollywood films - including The Wolf of Wall Street and Dumb and Dumber To - and buy a jet and London property.
In court papers filed Thursday, they say money was also used to pay for a diamond necklace for the wife of Malaysia official 1 - who has been revealed as Mr Razak - and to buy the Picasso still life, which was later given to actor Leonardo DiCaprio as a birthday gift.
Other items included shares of companies such as Palantir Technologies and Fly Wheel Sports; and a 300-foot luxury yacht that carries up to 26 guests and 33 crew members with a helicopter launching pad and movie theatre.
The Justice Department did not respond to a question about how much it has managed to recover so far. The assets named Thursday are worth $540m, they said.
Those named in earlier complaints, including the family of financier Jho Low, who authorities say was a key player in the affair, have fought the seizures
Mr DiCaprio, who starred in the Wolf of Wall Street, said last year he was cooperating with the investigation and would return any gifts tied to the fund.
Red Granite Pictures, which financed The Wolf of Wall Street and Dumb and Dumber To, is in settlement talks. The firm was founded by Mr Razak's stepson.
Attorney Jim Bates, who represents the firm, said it is "fully cooperating" and remains an active production company.