Published 12:28 IST, April 4th 2023
Hollywood Star Leonardo DiCaprio testifies in money laundering and bribery trial
Movie star Leonardo DiCaprio testified in federal court Monday morning as part of a trial involving international money laundering, bribery and a prominent rap artist.
Advertisement
Movie star Leonardo DiCaprio testified in federal court Monday morning as part of a trial involving international money laundering, bribery and a prominent rap artist.
Prakazrel “Pras” Michel — a founding member of iconic 1990s hip-hop group, Fugees — is accused of funneling money from a fugitive Malaysian financer through straw dors to Barack Obama’s 2012 reelection campaign. Five years later, prosecutors say he tried to squelch an investigation into that same financer under former President Donald Trump’s ministration.
Advertisement
At heart of case is Low Taek Jho, usually kwn as Jho Low. He is accused of masterminding an international money laundering and bribery scheme that stole billions from Malaysian state investment fund kwn as 1MDB.
DiCaprio’s connection with case comes from his years-long relationship with Low, who was one of primary financiers of movie “ Wolf of Wall Street.” Low is currently a fugitive but has maintained his incence.
Advertisement
According to charges, Michel essentially became a conduit for Low’s pilfered millions and his attempts to influence U.S. government. Prosecutors allege that from June to vember 2012, Low directed more than $21.6 million to be moved from foreign entities to Michel’s accounts to funnel money into 2012 presidential election. y say Michel n paid about 20 straw dors and conduits so y could make donations in ir names and conceal where money actually came from, according to indictment.
DiCaprio testified that he met and befriended Low at a birthday party in Las Vegas in 2010. “I understood him to be a huge businessman with many different connections in Abu Dhabi and Malaysia,” he said.
Advertisement
48-year-old Oscar winner answered questions on witness stand calmly — occasionally deferring to a fuzzy memory on some details and dates. In dition to his relationship with Low, DiCaprio said he h kwn defendant Michel since sometime in 1990s when y met backst after a Fugees concert.
Low was kwn for hosting lavish star-studded parties and group vacations on his private jet to events like World Cup in Brazil. DiCaprio recounted one particular junket that involved flying to Australia to celebrate New Year’s Eve, n flying to Las Vegas to celebrate a second time in one day. Michel was present on some of se trips, DiCaprio said.
Advertisement
Low became a regular contributor to DiCaprio’s charitable foundation, and eventually Low floated idea of providing primary financing for “ Wolf of Wall Street.”
DiCaprio said he h Low’s funding and legitimacy carefully vetted before entering into a business relationship.
Advertisement
“I was given green light by my team as well as my studio,” he said. “He was a legitimate business person wanting to invest in movie.”
DiCaprio also recalled a “casual conversation” with Low in which Low told him he intended to make a large contribution to Obama’s reelection campaign.
“It was a significant sum — something to tune of $20-30 million,” he testified. “I said, ‘Wow that’s a lot of money!’”
After DiCaprio, multiple witnesses testified that y h been approached by Michel to make show contributions to Obama campaign. Richard Kromica, an investment banker, said Michel told him he h maxed out his legal contribution limit and asked Kromica and his husband Joseph to make a donation on his behalf. Kromica said Michel sent couple $80,000 to donate.
In or cases, acquaintances of Michel were offered invitations to high-roller fundraising dinners and told that ir 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 Obama fundraiser. But he immediately felt nervous about arrangement and sent it back.
“It just felt funny to me,” Brewer testified. “You’re just sending me money and it’s t a loan and I’m supposed to donate it to a campaign? That sounds shy to me.”
12:28 IST, April 4th 2023