Behind The Scenes Of 1MBD's Allegedly Ill-Gained Assets: NY Condos, An LA Mansion And A Private Jet
Yesterday, we wrote about the Malaysian fund the US Justice Department filed complaints against, hoping to seize $1B in allegedly illegally acquired assets. Here's what those assets entailed.
In addition to royalties from the 2013 Wolf of Wall Street starring Leonardo DiCaprio, the fund also acquired high-end real estate properties, including hotels and condos in New York, Los Angeles and London, reports the Wall Street Journal.
In Los Angeles, the fund—officially named 1Malaysia Development Berhad—holds a Beverly Hills mansion that features a 120-foot-long pool. In New York, it gained Manhattan condos, including a $35M seven-room, five-bathroom duplex overlooking Central Park. Other assets include some very costly artwork by Vincent van Gogh and Claude Monet, in addition to a $35M jet.
The fund remains under investigation for alleged money laundering, $1B of which US regulators claims was laundered through US banks. [WSJ]