KUALA LUMPUR: Malaysian prosecutors dropped on Thursday1MDB-linked charges against one of the producers of Hollywood hit The Wolf of Wall Street after he struck a deal that should see authorities recover over $100 million.
Riza Aziz, who is also the stepson of the country’s disgraced ex-leader Najib Razak, was charged with money laundering in July for allegedly receiving nearly $250 million from Malaysia’s sovereign wealth fund 1MDB.
Billions of dollars were looted from the fund and spent on everything from a yacht to pricey art in a huge fraud that spanned the globe, and allegedly involved Najib and his cronies.
But a judge agreed to give Riza a discharge not amounting to an acquittal (meaning the charges have been dropped) after he agreed a settlement with authorities, prosecutor Ahmad Akram Gharib said.
Malaysia’s anti-corruption commission said the government was expected to recover overseas assets linked to the crime estimated to be worth $107.3
Published in Dawn, May 15th, 2020