Leonardo DiCaprio testifies for prosecution at Fugees star Pras Michel’s 1MDB cash laundering trial

Hollywood star Leonardo DiCaprio gave bombshell testimony in court docket for the prosecution in federal court docket on Monday morning as a part of hip-hop star Pras Michel’s cash laundering trial with the 1Malaysia Growth Berhad (1MDB)

DiCaprio’s involvement within the case stems from the cash behind his movie ‘The Wolf of Wall Road,’ which was partially funded by the person who allegedly masterminded the 1MDB plot.

Prakazrel ‘Pras’ Michel is a founding member of 90s group The Fugees. 

He’s accused of funneling cash from fugitive Malaysian financer Jho Low by way of donors to former President Barack Obama‘s 2012 reelection marketing campaign.

Prosecutors allege that Michel tried to illegally foyer each the Obama and Trump administrations by utilizing funds given to him by Low that had been stolen tens of millions from the Malaysian sovereign wealth fund.

DiCaprio, the prosecution’s star witness, instructed the court docket that Michel attended lavish events thrown by Low – together with a New Yr’s Eve celebration in Australia after which Las Vegas.  

Prakazrel ‘Pras’ Michel, a member of the Nineteen Nineties hip-hop group the Fugees arrives at federal court docket for his trial in an alleged marketing campaign finance conspiracy

Leonardo Dicaprio with Jho Low on the Paris premiere of The Wolf of Wall Road

Within the middle of the case is Low Taek Jho, often known as Jho Low. The financer is accused of being the brains behind a world cash laundering and bribery scheme that stole billions of {dollars} from the Malaysian state funding fund generally known as 1MDB.

Low is at the moment a fugitive, however has maintained his innocence.

Michel, in keeping with prosecutors, grew to become a vessel for Low’s stolen tens of millions and his makes an attempt to affect the federal government of the US.

It’s alleged that from June to November of 2012, Low directed greater than $21.6million from international accounts to Michel’s accounts so as to funnel cash into Obama’s 2012 marketing campaign coffers.

Michel then supposedly used the cash to pay 20 donors to go the cash to the marketing campaign of their names and conceal its true origins.

On Monday, DiCaprio, 48, testified in Washington, DC that he met and have become buddies with Low at a birthday celebration in Las Vegas in 2010.

‘I understood him to be an enormous businessman with many various connection in Abu Dhabi and Malaysia,’ mentioned the A-lister.

The Oscar winner answered questions calmly on the stand and mentioned that along with his relationship with Low, he had identified Michel since someday within the 90s, after they had met backstage after a Fugees live performance.

Whereas he was nonetheless driving excessive, Low was identified to throw lavish events all over the world, typically that includes celeb company. He flew teams on his non-public jet to occasions just like the World Cup.

Michel, testified DiCaprio, was current on a few of these journeys, one among which included jetting to Australia for New Yr’s Eve after which jetting to Las Vegas to ring within the New Yr a second time.

Low constructed a relationship with DiCaprio through charitable donations to his basis and finally provided to offer the first financing for ‘The Wolf of Wall Road.’

The film star testified that Low’s funding was vetted and he was ‘given the inexperienced gentle by my crew in addition to my studio.’

‘He was a authentic enterprise individual desirous to spend money on the film,’ he mentioned.

DiCaprio additionally recalled a dialog throughout which Low mentioned he meant to make a big contribution to Obama’s reelection effort.

‘It was a big sum – one thing to the tune of $20-$30 million,’ he mentioned. ‘I mentioned, wow that’s some huge cash!’

On the stand on Monday, DiCaprio instructed the court docket how Low constructed a relationship with him by way of charitable donations to his basis and finally provided to offer the first financing for ‘The Wolf of Wall Road’

Michel, in keeping with prosecutors, grew to become a vessel for Low’s stolen tens of millions and his makes an attempt to affect the federal government of the US 

The Wolf of Wall Road had a reported price range of $100million and grossed a complete of greater than $400million worldwide when it was launched in 2013.

It was nominated for 5 Academy Awards and provides particular due to Jho Low within the credit.

The movie’s manufacturing firm, Purple Granite, agreed to pay the US authorities $60million however admit no wrongdoing as half of a bigger effort by the feds to grab near $1.7billion in property allegedly bought with stolen 1MDB funds. 

Who’s Jho Low? 

Jho Low is a Malaysian businessman who’s now a fugitive after fleeing the US.

The 41-year-old is dealing with prices for cash laundering – in addition to a plethora of different offences.

He’s linked to the 1MDB fund – which was rocked in an embezzlement scandal.

However earlier than he grew to become a fugitive, he lived a glamorous way of life rubbing shoulders with a few of Hollywood’s elite. 

Low studied at Wharton – College of Pennsylvania’s famed enterprise faculty.  For his twentieth birthday, he rented out a membership for $40,000 in Philadelphia to get together along with his associates.

Based on prosecutors, after school he grew to become a mastermind in offshore financing – would get Malaysian banks to lend him billions of {dollars} and realized easy methods to arrange shell firms. 

He was associates with the Malaysian prime minister – and helped him fund his authorities by organising a state-owned sovereign wealth fund – which was named 1MDB.

1MDB stands for 1Malaysia Growth Bhd, and was created to advertise growth within the nation.  

He would siphon tons of of tens of millions of {dollars} to himself and began partying with the elite and well-known – together with Leo DiCaprio and Paris Hilton. 

Low owned luxurious actual property in New York, Los Angeles, and London – in addition to tens of millions in artwork and personal planes. 

However the penny dropped in 2014. The Malaysian prime minister realized what he’d been doing and in 2016 a US lawyer sought to get better $1billion in property from Low.

Based on the U.S. Division of Justice, most of 1MDB’s cash raised was embezzled and diverted to shell firms and offshore financial institution accounts linked to Low. 

Goldman Sachs, which was additionally concerned within the scandal, entered its first-ever responsible plea and agreed to pay $5 billion and a $2.9 billion advantageous within the U.S. 

Low denies any wrongdoing. Prosecutors are nonetheless looking for him.