Jordan Belfort, known as the ‘real-life Wolf Of Wall Street’, is suing the producers of Martin Scorsese’s hit film of the same name.
Belfort has filed a $300 million fraud lawsuit against Red Granite Pictures at the Los Angeles Superior Court, The Hollywood Reporter reveals.
The report states that the lawsuit has arisen after it was revealed that Red Granite CEO Riza Aziz is facing corruption charges in Malaysia for embezzling over $200 million from state-run development fund 1MDB, with Belfort saying the scandal has tainted his story, and affected his ability to set up a potential sequel to the film.
Belfort’s lawyer told THR: “Red Granite and its principals did not disclose to Mr Belfort that they were using funds obtained from engaging in racketeering and other criminal activity … Had Mr Belfort known those facts, he would have never agreed to enter into this contract.”
Through the lawsuit, Belfort is attempting to cancel his contract with Red Granite, as his lawyer explains: “Belfort is significantly damaged by Red Granite’s tainting of his book/story rights, coupled with Red Granite’s inability and/or refusal to exploit and maximise the rights acquired from Belfort … due to the highly publicised scandal.”
Responding to the claims, Red Granite’s lawyer told The Hollywood Reporter: “Jordan Belfort’s lawsuit is nothing more than a desperate and supremely ironic attempt to get out from under an agreement that for the first time in his life made him rich and famous through lawful and legitimate means.”