The New York trial that has it all: Hollywood, megayachts, giant sums of money

The 1MDB swindle is one of the most remarkable cases to hit New York’s justice system in years – but the trial poses a number of unanswered questionsIt started, at least in terms of the public’s recognition, with a giant spending spree that reads like a Christmas wishlist for a billionaire.Picasso’s Women of Algiers for $179m; $100m to fund the production budget of Martin Scorsese’s The Wolf of Wall Street and a $600,000 Oscar statuette given to Marlon Brando for best actor in On the Waterfront – a gift for the movie’s star Leonardo DiCaprio. But it did not stop there: there was also a custom-built megayacht; a Beverly Hills hotel; a $415m stake in EMI music publishing; and a transparent grand piano. Continue reading...

The New York trial that has it all: Hollywood, megayachts, giant sums of money

The 1MDB swindle is one of the most remarkable cases to hit New York’s justice system in years – but the trial poses a number of unanswered questions

It started, at least in terms of the public’s recognition, with a giant spending spree that reads like a Christmas wishlist for a billionaire.

Picasso’s Women of Algiers for $179m; $100m to fund the production budget of Martin Scorsese’s The Wolf of Wall Street and a $600,000 Oscar statuette given to Marlon Brando for best actor in On the Waterfront – a gift for the movie’s star Leonardo DiCaprio. But it did not stop there: there was also a custom-built megayacht; a Beverly Hills hotel; a $415m stake in EMI music publishing; and a transparent grand piano.

Continue reading...