Actor Leonardo DiCaprio testifies in money laundering and corruption trial | American News

Leonardo DiCaprio testified in federal court Monday morning in a lawsuit involving international money laundering, bribery and a high-profile rap artist.

Prakazrel Pras Michel, founding member of iconic 1990s hip-hop group The Fugees, is accused of funneling a fugitive Malaysian financier’s money through straw donors for Barack’s re-election campaign Obama in 2012. Five years later, prosecutors say he tried to stifle an investigation into that same financier under Donald Trump’s administration.

At the heart of the case is Low Taek Jho, commonly known as Jho Low. He is accused of orchestrating an international money laundering and corruption scheme that stole billions from the Malaysian public investment fund known as 1MDB.

DiCaprio’s connection to the deal stems from his years-long relationship with Low, who was a key financier in the film The Wolf of Wall Street. Low is currently a fugitive but has maintained his innocence.

According to the charges, Michel essentially became an intermediary for Lows who stole millions and his attempts to influence the US government. Prosecutors allege that from June to November 2012, Low ordered the transfer of more than $21.6 million from foreign entities to Michels accounts in order to funnel money toward the 2012 presidential election. They say that Michel then paid about 20 straw and conduit donors so they could make the donations in their name and conceal the actual source of the money, according to the indictment.

DiCaprio testified that he met and befriended Low at a birthday party in Las Vegas in 2010. I understood he was a huge businessman with many connections different in Abu Dhabi and Malaysia, he said.

The 48-year-old Oscar-winning actor calmly answered questions on the witness stand, sometimes relying on hazy memory about certain details and dates. In addition to his relationship with Low, DiCaprio said he had known the accused Michel for some time in the 1990s, when they met backstage after a Fugees concert.

Low was known for hosting lavish star-studded parties and group vacations in his private jet for events like the World Cup in Brazil. DiCaprio recounted one particular junket that involved flying to Australia to celebrate New Year’s, then flying to Las Vegas to celebrate a second time in one day. Michel was present on some of those trips, DiCaprio said.

Low became a regular contributor to the DiCaprios Charitable Foundation and eventually pitched the idea of ​​providing primary funding for the Wolf of Wall Street.

DiCaprio said he carefully checked Lows’ financing and legitimacy before entering into a business relationship.

I got the green light from my team as well as my studio, he said. He was a legitimate businessman who wanted to invest in the film.

DiCaprio also recalled a casual conversation with Low in which Low told him he intended to make a big contribution to Obama’s re-election campaign.

It was a significant sum in the range of $20 million to $30 million, he testified. I said, Wow that’s a lot of money!

After DiCaprio, several witnesses testified that they had been approached by Michel to make fictitious contributions to Obama’s campaign. Richard Kromica, an investment banker, said Michel told him he had reached his legal contribution limit and asked Kromica and her husband Joseph to donate on his behalf. Kromica said Michel sent the couple $80,000 as a donation.

In other cases, acquaintances of Michel were offered invitations to high roller fundraising dinners and told that their attendance would be sponsored by Michel and his associates. Jack Brewer, a former NFL player, said Michel wired him $32,000 to cover his entry into one such fundraiser for Obama. But he immediately felt nervous about the arrangement and fired it.

It was just funny to me, Brewer testified. You just send me money and it’s not a loan and I’m supposed to donate it to a campaign? Seems dodgy to me.